Higher U.S. tariffs will extend uncertainty for businesses, experts say. Here's why.

President Trump's executive order hiking tariffs on U.S. imports could drive up consumer prices and prolong uncertainty for millions of businesses, trade experts said.

Materials issued by the White House on Thursday outline new tariff rates for dozens of countries, but details remain scant on how to implement the trade agreements, said Barry Appleton, co-director of the New York Law School Center for International Law.

"The last thing businesses want to have are unanswered questions. They were looking for certainty, and what we have instead is a gigantic Rubik's Cube," he told CBS MoneyWatch. "Everyone has been waiting for 'Liberation Day' to be finished," he added, referring to the country-based tariff announcements Mr. Trump first made in early April. "Instead, with this announceme