The trade war is no longer just a geopolitical talking point — it’s now a frontline reality for thousands of workers across North America. In the wake of sweeping new tariffs imposed by the Trump administration, a growing list of companies have announced job cuts, operational pauses, and in some cases, full-scale shutdowns. The fallout is cascading through industries as diverse as automotive, steel, consumer goods, and even tabletop gaming.

With thousands already laid off and more cuts expected, many fear the ripple effect from these tariffs could further strain a fragile post-COVID recovery, and threaten the broader North American labor market.

Volvo Group, Stellantis, Cleveland-Cliffs, Sheertex & More

One of the most significant announcements came from Volvo Group (VLVLY), which is laying off between 550 and 800 workers across three U.S. facilities, including Mack Trucks in Macungie, Pennsylvania, and plants in Virginia and Maryland. The company cited sharp drops in demand and production disruptions caused by tariffs on steel and truck components.

Auto giant Stellantis (STLA) — maker of Chrysler, Dodge, and Jeep — has temporarily laid off approximately 900 U.S. workers and 4,500 Canadian employees, pausing production at multiple plants across the continent. The layoffs come in response to the administration’s 25% tariff on imported vehicles and auto parts.

Cleveland-Cliffs (CLF), a leading U.S. steel and mining firm, announced the layoff of 1,200 workers across its Dearborn, Michigan steel mill and two iron ore facilities in Minnesota. The company attributes the cuts to slumping demand from automakers and the higher cost of raw materials due to tariffs.

Don't Miss: 

• Think it’s too late to invest in the booming AI sector? This one’s still under the radar
• $48.3B in Digital Ad Spend—and Why Investors are Backing This One Little-Known AI Startup

Sheertex, a Montreal-based company known for its unbreakable pantyhose, laid off 40% of its workforce—a decision directly linked to U.S. tariffs on Canadian exports. Compounding the blow is the removal of the de minimis exemption, which previously allowed duty-free shipping for small parcels into the U.S.

In a less traditional but equally telling example, St. Louis-based Greater Than Games has suspended all operations after tariffs of up to 145% were placed on Chinese imports — including game components critical to its products. The move sent shockwaves through the tabletop gaming industry, which relies heavily on Chinese manufacturing for affordability and quality.

Cosmetics titan Estée Lauder (EL) recently announced an expansion of its workforce reduction plan, now aiming to cut up to 7,000 jobs worldwide. The company linked its decision to a slump in Chinese demand and anticipation of reciprocal tariffs that could impact global sales further.

Analysts: This Is Just the Beginning

Industry experts warn that what we’re seeing now could be a prelude to deeper economic challenges. A report from Forbes estimates that over 5.6 million jobs across manufacturing, agriculture, and logistics may be at risk if trade tensions continue to escalate.

As political leaders debate trade strategy on the global stage, the consequences are being felt by workers, families, and small businesses across North America. With companies large and small struggling to adapt, and many caught in the crossfire of retaliatory measures, the tariff fallout is proving to be more than an economic theory — it’s a lived reality for thousands.