Post by Craft.co

A new tariff is an opportunity to save your company money and show your value — assuming you have the right tools. On Jun 2, the United States Trade Representative (USTR) proposed a forced labor tariff targeting virtually every major US trading partner: Canada, Mexico, the EU, China, and many others. The rationale is forced labor. Analyzing the impact is tricky, because there are quite a few exceptions. USMCA and CAFTA-DR goods, aerospace and semiconductor components, certain minerals, metals, chemicals and produce items. Everything else will get an extra 10-12.5% tariff.. If you have good vendor illumination, you can put together a plan to save money in a few hours: trace supplies upstream, ID vendors who will be affected, and plan out some alternative vendor options, in case the tariff is approved. If you don’t, it’s not worth the effort; it just takes too long for a tariff that might not pass. Read the full blog here: https://lnkd.in/eFK-RYa3 #tarrifs #globaltrade #supplychain