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5 Steps to Navigate Around Tariffs

Flexibility is key in charting a company’s course through the uncertainties of a global trade war.

By Robert Wanuga | Updated on July 18, 2018

With tariffs now imposed on approximately 10,000 products traded around the world—with more added seemingly every day—it seems that the trade war is officially upon us. As of July 10, the U.S. has proposed tariffs on $200 billion in Chinese products, with threats to add $200 billion more. In the end, tariffs may impact close to 90 percent of products sent to the U.S. from China. Already China, Mexico, Canada, and the European Union (EU) have retaliated with tariffs on American goods.

The trade policy emanating from the Trump administration continues to be a fluid situation. President Trump has a tendency to act unilaterally, often staking out an extreme position as a means of jump-starting negotiations to allow him to move toward a desirable negotiated settlement. For instance, the imposition of steel and aluminum tariffs on key allies Canada, Mexico, and the EU was surprising, unless you consider the move in the context of a positioning strategy within ongoing negotiations around the North American Free Trade Agreement (NAFTA).

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