Navigating the Uncertainty of U.S. Tariffs

This white paper discusses the impact of U.S. tariffs on global businesses in 2025, highlighting the complexities introduced by trade tensions and retaliatory measures from other economies. It outlines how tariffs have evolved from mere policy tools to significant levers of industrial strategy, affecting core business models, including corporate control, pricing strategies, and tax compliance. The paper reviews historical tariff regimes to identify patterns and areas of risk exposure for organizations. It emphasizes the need for cross-functional responses and leadership alignment to build resilience against tariff-related disruptions. The document also presents strategic levers that executives can activate to adapt their operations, such as revising transfer pricing models, enhancing pricing strategies, and localizing production. By viewing tariffs as indicators of broader policy shifts, companies can better prepare for volatility and align their operational models accordingly. The insights provided aim to equip executives with a framework for assessing exposure and responding effectively to changing trade dynamics.