On December 11th, 2024, over 460 participants tuned in online to an informative webinar titled “What will President-elect Trump’s tariff agenda mean for your business?”
Co-hosted by CGCC and EY, the webinar provided attendees with a high-level overview of the potential trade and tariff measures under the incoming Trump administration.
Key Takeaways from the event include:
-Uncertainty in the geopolitical environment will remain following the 2024 Global Election Supercycle.
-Three key themes will continue to play out for both governments and businesses: 1. from elections to policymaking, 2. economic competition and sovereignty, and 3. geopolitical rivalries.
-In the US and globally, developments will require executives to rethink their global business models and strategies and drive business transformation.
-This also means companies will need to expand their investment playbooks, prioritize transparency amid supply chain diversification, and adapt trade and finance strategies.
-The incoming Administration will focus on China as a strategic competitor and advocate for tariff and non-tariff policies to address national and economic security concerns. Some of the tariff measures can be implemented as early as the First Day of the new Administration. Companies should take a holistic approach to mitigate the impact of potential tariffs and prepare for geopolitical uncertainty and risks. Trade, tax, and supply chain should action now, collaborating to assess and model potential impacts and to align on mitigation strategies and opportunities.
If you would like to discuss these topics or have any specific questions, kindly contact Michelle Wang at michelle.wang@ey.com.
If you are interested in viewing the webinar recording, kindly contact Hallie Carmen at hallie.carmen@cgccusa.org.