President Donald Trump announced a wave of tariffs on Canada, China, and Mexico, though some have now been delayed, sparking mixed reactions in the business world.

Executives Weigh In: Tariffs increase costs for American importers, which can lead to higher prices for consumers. Industries such as perishable foods and automobiles could see disruptions as Trump’s tariffs take effect.

General Motors Co GM CEO Mary Barra reacted to the tariffs announcement last week, telling Yahoo Finance that the Detroit-based company has already prepared for impending tariffs.

“We’ve done a lot of scenario planning and we know the levers that we can pull to minimize any impact. But having the opportunity to talk to the president, I really believe he wants a strong manufacturing sector because it’s good for the economy,” Barra said.

Meanwhile, Shopify Inc SHOP CEO Tobi Lutke responded more positively to the tariffs, announcing a “buy local” feature on X.

UBS Group AG UBS CEO Sergio Ermotti told Bloomberg that the tariffs could result in “spikes in volatility,” reiterating that “negative outcomes are not priced into the market.” Ermotti sees inflationary pressure as possibly impacting central bank policy.

The CEO of JPMorgan Chase & Co JPM, Jamie Dimon, told CNBC that critics of Trump’s tariffs should “get over it.” Dimon said that the tariffs could help the United States with national security. Dimon was previously a critic of Trump’s tariffs during his first term.

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