Rick Woldenberg believed he had a foolproof strategy to shield his Chicago-based educational toy company from President Donald Trump’s massive new taxes on Chinese imports. Facing a significant threat to his business, he sought a way to navigate the challenging economic landscape.

In a surprising turn of events, former President Donald Trump has lifted reciprocal tariffs on electronics while setting his sights on imposing new levies on semiconductors. Targeting Chinese technology, he has implemented a 20% fentanyl tariff and initiated a “National Security Tariff Investigation” that could reshape the tech industry in the coming months.

In a stark warning, the CEO of JPMorgan Chase has stated that President Donald Trump’s extensive tariffs are “likely” to trigger a recession, raising concerns over the economic fallout of current trade policies.