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In the weeks after Donald Trump’s sweeping election victory, American corporations sought to reassure buyers that they had been amply ready for a new round of tariffs. Some, like Stanley Black & Decker, a toolmaker, highlighted efforts to shift their provide chains away from China. Others, like Lowe’s, a home-improvement retailer, pointed to processes they’ve put in place to cope with tariffs after Mr Trump’s first time period, throughout which levies had been imposed on about $380bn-worth of imports starting from metal and aluminium to washing machines, largely from China.
