With sweeping reciprocal tariffs from the Trump administration now in effect, businesses in the U.S. are bracing a range of impacts, from a rise in late payments to suppliers, to higher prices for consumers.

According to a survey from Creditsafe of more than 200 supply chain professionals, nearly 60% of U.S. companies oppose the White House's new tariffs, while 62% said that they believe that tariffs will increase the chance of a global recession by the end of the year. Another 44% said that they're most worried about tariffs increasing the costs of materials and equipment, while 15% said that their chief concern is a reduced demand for goods and services. 

The Trump administration's reciprocal tariffs against dozens of nations went into effect on August 7, with rates running the gamut depending on the nation. Countries such as Japan, Israel, South Korea and Norway sit on the lower end of the spectrum at 15%, with tariffs for Nicaragua, Thailand, Pakistan, Taiwan and India among others coming in between 18% and 25%. Switzerland, Myanmar, Laos, Syria and Brazil are subject to the highest duties of any countries, with rates between 39% and 50%. Tariffs against China have been set at 30% for months, as part of an agreement with the Trump administration that expires on August 12. 

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In the face of those tariffs, nearly half of U.S. businesses surveyed by Creditsafe said that they're planning to absorb at least some of the added costs, with 16% looking to fully absorb the costs themselves. However, 63% said that they plan to raise prices for consumers, with 14% reporting that price hikes will be used to cover 100% of added tariff costs.

More than half of businesses said that the levies have also resulted in delayed payments to suppliers, with nearly a quarter of those businesses reporting paying suppliers "significantly later than usual." In an August 7 release, National Association of Wholesaler-Distributors CEO Eric Hoplin further explained how tariffs lead to a cascading effect across a business's supply chain. 

"Distributors are required to pay tariff duties within ten days, yet often do not sell the product or receive payment until months later, creating significant cash flow challenges that hinder investment, innovation and job growth," Hoplin said. 

At U.S. ports, import volumes are expected to slow for the remainder of the year, with many companies already having brought in extra shipments to get ahead of the August tariff implementation deadline. And with the National Retail Federation projecting double-digit year-over-year dips in import volumes in each month between August and November, holiday shoppers are likely to see higher prices and less selection than they're accustomed to, as inventory that was shipped in ahead of August dwindles.