The Summer of Tariffs
In this episode of Five Questions, Five Answers, host Birgit Matthiesen welcomes AFS attorney James Kim to explore the current state of US tariffs and their impact on importers and various industries, with a special focus on the electric vehicle sector.
On
The conversation highlights evolving trade policies, challenges faced by businesses in navigating tariffs, and the importance of compliance with trade agreements such as United States-Mexico-Canada Agreement (USMCA). Birgit and James emphasize the need for proactive strategies in supply chain management in order to adapt to the rapidly changing trade landscape.
Takeaways
- Indicating permanence. The current state of tariffs suggests they are here to stay.
- Increasing cost pressures arise from rising tariffs and reduced tax credits.
- Offering potential tariff savings. The USMCA requires strict compliance.
- Ensuring flexibility in contracts is essential to handle tariff fluctuations.
- Reducing dependency on high-risk countries involves diversifying supply chains.
