What a trade consultant is hearing from clients as Trump roils the waters

Over the past few weeks, President Donald Trump has escalated a trade war with China, threatened to start one with Canada, Mexico and Colombia, and announced a 25% tariff on steel and aluminum imports from every country across the globe. To quote the president as he signed the orders Monday in the Oval Office: “It’s a big deal.”

As a trade consultant, Sarita Jackson, founder and CEO of the Global Research Institute of International Trade, tries to help businesses figure out how to navigate those volatile global markets. “Marketplace” host Kai Ryssdal asked her how her clients are responding and how the landscape is changing. 

The following is an edited transcript of their conversation. 

Kai Ryssdal: Explain to me, would you, the life of a trade consultant here in February 2025.

Sarita Jackson: Wow. Well, the best explanation, I could say, is kind of like being in the middle of a storm, if you will. Just really staying on top of what those changes are on a regular basis, I would say 24 hours. Sometimes it’s less than 24 hours.

Ryssdal: Well, a woman’s got to sleep, right? But, but look, other than what the heck is going on, what are, like, the top three things that people are asking you?

Jackson: Well, the main thing is, what does this mean for my product in a particular market? For example, some of my clients, one of the clients, and actually we’re scheduled to talk again soon, toward the end of last year, you know, I had worked with her. I said, “Hey, why don’t you consider having your product, or part of it, manufactured in Mexico as opposed to China? Because we’ve had these tariffs already, and then we’re hearing about more tariffs. So why don’t we shift to Mexico because we have the U.S.-Mexico-Canada Agreement?” Well, then there were concerns about, “OK, what does this mean for me now that I am looking at Mexico for my production and there still are going to be these tariffs?”

Another issue that has really come up is pertaining to funding. Some of these clients, I just had this conversation yesterday, actually, [about] if there’s cuts to the funding for the U.S. Agency for International Development, and that’s how I’m able to expand overseas, what does that mean for me to still continue to remain globally integrated in 2025?

Ryssdal: Do you have many, or any, companies saying that because of the present tariffs and whatever tariffs may come, they are going to reshore their production and bring it back to the United States?

Jackson: You know, that is one of the interesting things that I was waiting to hear. And as of yet, I have not heard that. What has impressed me, and these are smaller companies, by the way, what has really been interesting, at least with the companies that I’ve spoken with now — maybe someone else may have a different story — but they still are focused on going global or remaining globally integrated and just saying, well, we just need to adjust and figure out the best strategy with the resources that are available. 

Ryssdal: Right. Two more things, and then I’ll let you get back to work because I know you have client calls. The first one is, just very broadly speaking, clearly now the United States, as a matter of policy, is going to be trying to go it alone in global trade. And I realize that’s an oxymoron because you can’t go it alone in global trade, but we’re certainly going to pull back a good deal. What’s that going to mean for the American economy?

Jackson: For the American economy, the one thing I can definitely say is, prices will go up. The business owner will have to carry those costs. And then, guess what? Some of those costs will be passed on to the consumer. And then, if you are an exporter, if that’s what you depend on to grow your business, and you’re exporting to countries and then other countries are retaliating, well, that makes it more difficult for you to grow your business and to enter other markets and provide much-needed goods or service in that market. That has an effect both on the businesses and the consumers. 

Ryssdal: And then finally, acknowledging that it took decades to build a system of international trade that we have had up until recently and also granted that there were deep flaws with it and it did some level of damage. But, you know, rising tide, all boats. How long do you suppose it takes to rebuild some kind of global trade order if we have 3½ more years of American isolationism?

Jackson: That is a really good question. Something I think needs to be discussed even more is the role of the international institution, the World Trade Organization. The WTO.

Ryssdal: Which you haven’t heard mention of very much at all lately anyway, right?

Jackson: Exactly, which people miss. Yes, you see sort of this isolationism or protectionism, but there is this whole international institution that sets rules. So for me, it’s hopefully not that the whole system will crash, but just that we are going through a unique period where we have some of these shifts, but that you have this international body that can continue to govern so that trade can continue and be beneficial in this so-called global economy.