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Ext. PublicationTariffs, Retaliation and Rising Costs — What You’re Probably Missing | Podcast
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On the Shop Floor
How can businesses navigate the rising challenges of tariffs in today’s volatile market? In this episode of Weaver: Beyond the Numbers, On the Shop Floor, Kurtis Dixon and Marvin Ferguson dive into practical tactics manufacturers and distributors can use to mitigate the impact of tariffs.
Key Points:
- Tariffs are forcing companies to reassess sourcing and production strategies and consider long-term cost and timing.
- Supply chain decisions and import classifications can affect tariff exposure, making careful review of vendors and other key strategies.
- Addressing tariff impacts requires coordinated legal and financial planning, including scenario analysis, pricing considerations and potential recovery options.
The hosts discuss how recent tax incentives, including provisions within the One Big Beautiful Bill Act (OBBBA), have renewed interest in onshoring production as a way to help offset tariff pressures. Marvin says that while these incentives may reduce exposure, they are not a quick fix. Kurtis adds context, including policy uncertainty and execution challenges, emphasizing that these decisions require long-term commitment.
Kurtis and Marvin explore nearshoring as a strategy to help alleviate tariff pressures. Companies may set up or employ vendors in other regions, but this approach presents its own challenges. The hosts discuss how businesses can potentially reduce costs and ensure accurate tariff classifications by reviewing Harmonized Tariff Schedule (HTS) codes with Customs and Border Protection. “There’s a lot of considerations when it comes to the tariffs and how to play the timing game, the coding game and also the game of is there reprieve,” says Kurtis.
The conversation reinforces the value of proactive planning, including scenario analysis, financial assessment and legal consultation. These approaches can help companies manage tariff impacts and respond effectively to evolving trade conditions.
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