The recent rollout of global tariffs by the Trump administration has caught many businesses off guard. While the president has long advocated for protective trade measures, few expected such sweeping action—a baseline tariff on all imports and dramatically higher rates for key trading partners like China. As the situation continues to evolve, businesses large and small are feeling the impact, particularly due to the unpredictable nature and scale of the changes. In the face of uncertainty, companies must take proactive steps to assess their exposure, adapt their strategies and minimize disruption.
The tariff plan sent businesses of all sizes scrambling. Even companies accustomed to dealing with tariffs have been shaken because this round is so much more extensive and seemingly subject to change than those in the past.
Proponents of tariffs say they can be used as a negotiating tool to get other countries to lower their tariffs on U.S. imports, thereby leveling the global trade playing field. They also argue that if domestic and foreign companies relocate to the United States, it'll create jobs for Americans, fuel construction industry growth and provide additional tax revenue.
Please select this link to read the complete article from OSAP Mission Partner Clark Schaefer Hackett.