Made In America: 5 Strategies To Respond To Potential Tariffs

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Made In America: 5 Strategies To Respond To Potential Tariffs

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Made In America: 5 Strategies To Respond To Potential Tariffs

//business-finance.news-articles.net/content/202 .. -strategies-to-respond-to-potential-tariffs.html

Published in Business and Finance on Thursday, January 16th 2025 at 7:21 GMT by Forbes
^{🞛 This publication is a summary or evaluation of another publication 🞛 This publication contains editorial commentary or bias from the source}

The easiest pathâ€”to continue with current offshore manufacturing and importing as isâ€”will also be the costliest. President-elect Donald Trump made tariffs a cornerstone of his campaign. He has since doubled down, promising a 25% tariff on goods from Canada and Mexico, and a 10% raise (perhaps above the previously pledged 60%) on imports from China.

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The article from Forbes Finance Council, published on January 16, 2025, titled "Made In America: 5 Strategies To Respond To Potential Tariffs," discusses strategies for businesses to adapt to potential new tariffs on imports. It outlines five key approaches: 1) Diversifying Supply Chains - suggesting companies look beyond traditional suppliers to mitigate risks associated with tariffs. 2) Investing in Domestic Manufacturing - encouraging businesses to bring production back to the U.S. to avoid tariffs and support local economies. 3) Leveraging Trade Agreements - exploring existing trade deals that might offer exemptions or lower tariffs. 4) Price Adjustments and Cost Management - preparing for potential price increases by optimizing internal costs or adjusting pricing strategies. 5) Advocacy and Lobbying - engaging in political advocacy to influence tariff policies or gain exceptions. The article emphasizes the importance of proactive planning and strategic adjustments to navigate the complexities of international trade under new tariff regimes.

Read the Full Forbes Article at:
[ https://www.forbes.com/councils/forbesfinancecouncil/2025/01/16/made-in-america-5-strategies-to-respond-to-potential-tariffs/ ]