Unpredictable U.S. tariff policies have caused significant concern among local mayors, especially those near borders. Bryan Barnett, mayor of Rochester Hills, Michigan, noted that businesses in his area are facing severe challenges due to these uncertainties. Nearly 60% of surveyed companies have halted capital investments for the upcoming year, which is crucial for innovation and growth. Additionally, 35% anticipate substantial layoffs, highlighting the potential economic downturn affecting the local workforce and economy.
The uncertainty around tariff policy has put many businesses on edge, with nearly 60% of local companies stopping capital investment for 2025, signaling a potential innovation crisis.
In Rochester Hills, 35% of surveyed businesses expect significant layoffs due to the unpredictability of tariff changes, affecting the local economy and employment.
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