Feb 2 (Reuters) - For North American companies, the

"wait and see" moment on tariffs is over.

U.S. President Donald Trump imposed a 25% levy on goods from

Canada and Mexico, along with a 10% tariff on China, in what

could be the opening stages of a full-scale trade war likely to

create new headaches for executives that have been wrangling

with higher costs for several years.

Tariffs on goods imported from the U.S.'s three largest

trade partners could upend industries from autos to consumer

goods to energy. Executives have been able to deflect questions

about dealing with tariffs before Saturday's announcement, and

many wanted to avoid antagonizing Trump's White House after he

took office. That non-response may no longer be possible.

"All CEOs are bewildered by these non-strategic tariff

tantrums being directed at our closest allies instead of

adversaries," said Jeffrey Sonnenfeld, professor at Yale School

of Management in New Haven, Conn.

Numerous global companies will report results this coming

week, including Amazon ( AMZN ), Ford Motor ( F ), Mondelez

International ( MDLZ ) and Owens-Illinois. They will

likely face a barrage of questions on how they plan to mitigate

these costs.

Reuters reached out to numerous companies, none of whom

would comment on the record about the tariffs. Several industry

associations did comment, though some were more critical than

others.

The U.S. Steelworkers union, the largest industrial union in

North America, criticized Trump's tariffs on Canada, citing some

$1.3 trillion in trade between the two countries.

"These tariffs don't just hurt Canada. They threaten the

stability of industries on both sides of the border," union

president David McCall said in a statement.

Automakers like General Motors ( GM ) and Toyota ( TM ),

could shift production from foreign factories to the United

States, while companies like global aluminum giant Alcoa ( AA )

have suggested re-routing shipments to reduce the tariff burden.

Many companies accelerated shipments in the fourth quarter

ahead of Trump's return to office.

Offsetting tariffs are harder for smaller companies without

global operations that need foreign parts. Numerous aerospace

and auto companies operate near the U.S.-Canada border, while

U.S. refiners in the Midwest rely heavily on Canadian crude oil.

Tariffs are paid by importing companies, not foreign

nations, as Trump frequently claims erroneously. This week, he

acknowledged that tariffs would cause short-term disruption as

the costs are sometimes passed on to consumers.

Trump has pursued tariffs as a way of forcing companies to

re-locate to the United States. But that is frustrating to firms

that shifted production to Canada and Mexico in response to

Trump's tariffs on China in his first term - and now are set to

be hit even after "near-shoring" closer to home.

"Our American automakers ... should not have their

competitiveness undermined by tariffs that will raise the cost

of building vehicles in the United States and stymie investment

in the American workforce," said Matt Blunt, president of the

American Automotive Policy Council, which represents Ford Motor ( F ),

General Motors ( GM ) and Stellantis ( STLA ).

Research

shows that higher tariffs usually lead to higher checkout

prices, but the exact effect is unclear. Experts told Reuters

that businesses might absorb some or all of the tax burden.

Tom Madrecki, vice president of supply chain resiliency at

the Consumer Brands Association, in a statement said "the

consumer packaged goods industry supports a strategic 'America

First Trade Policy' that protects American jobs and keeps food,

beverage, household and personal care products affordable."

However, he also said tariffs could cause higher prices and

urged Mexico and Canada to work with President Trump.

Big-box stores like Walmart ( WMT ) and Target ( TGT ),

which have been fighting to keep prices low because of

inflation, might not be able to withstand higher supply chain

costs.

The two companies did not immediately respond to requests

for comment, but the National Retail Federation, which

represents the nation's largest retailers, said the White House

should explore other ways to achieve its policy goals.

"As long as these universal tariffs are in place, Americans

will be forced to pay higher prices on everyday consumer goods,"

said David French, NRF executive vice president of government

relations.

Church & Dwight ( CHD ), which makes Arm & Hammer detergent

and Trojan condoms, said it would focus on local manufacturing

and productivity improvements to offset the effects.

"These are volatile situations, so we'll see how long it

lasts and what happens," CFO Rick Dierker said in an earnings

call on Friday, adding that they have the ability to "be

reactive when we need to be."