'Freakout': Foreign firms are reportedly scrambling ahead of Trump's 2nd term

Businesses across the globe are scrambling — even trying to frontload orders to the United States — as they stare down the second inauguration of President-elect Donald Trump and the possibility he'll follow through on enacting steep tariffs.

Trump recently threatened to impose tariffs on U.S. allies and demanded that the European Union close its trade gap with the United States. The president-elect told the EU to reduce the gap by buying oil and gas or face tariffs, which he's also threatened to levy on Canada, China and Mexico.