For decades, many American companies have relied on the global economy to provide them with the supplies, components, and talent they need to achieve their business goals. The recent introduction of new tariffs disrupts this balance, creating considerations that businesses must factor into their operations.
Tariffs involve adding a tax on imported goods paid to the government. In some cases, the institution of tariffs on imports from one country may lead other countries to place tariffs in retaliation, creating what is commonly called a “trade war.”