High tariffs announced by U.S. President Donald Trump last week likely will hike costs for fare-system vendors, which are expected to pass on at least part of the increases to transit agencies, fare industry veterans told Mobility Payments.
Most industry observers say it’s too early to predict the scale of the impact, with many apparently holding out hope that Trump will change his mind and lower the tariffs, as stock markets reel and a number of countries seek to negotiate. Update: Trump abruptly paused most of the tariff hikes for 90 days on Wednesday, except for the levies on China. End update.
But while neither vendors nor agencies are expected to take huge hits from the tariffs, the pain could be significant.