It’s late 2025, and Donald Trump has done what he said he would do: impose high tariffs – taxes on imports – on goods coming from abroad, with extremely high tariffs on imports from China. These tariffs have had exactly the effect many economists predicted, although Trump insisted otherwise: higher prices for American buyers.

Let’s say you have a business that relies on imported parts – maybe from China, maybe from Mexico, maybe from somewhere else. What do you do?