The Latest on Tariffs and Their Impact on Business Strategies [Video and Audio]

  • Industry trends
  • 7/15/2024
Omar Nashashibi

Watch our video and audio series to better understand the goal of tariffs and their likely impact on global trade and the world economy.

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CLA has contracted with The Franklin Partnership and Omar Nashashibi to provide the content for this video and audio series. We regularly add new clips as changes in the trade war and U.S. tariff policies develop, so check back periodically for the latest updates. 

We’ve talked extensively with Omar Nashashibi of The Franklin Partnership and others to record a series of short videos and audio clips that can help you better understand the goal of tariffs, their likely impact on inflation, the current and near-term trade environment, potential global quotas, and strategies for staying competitive.  

U.S.-Mexico-Canada Agreement Internal Review Begins

U.S., Mexico, and Canada policymakers are gearing up for the initial six-year evaluation of the USMCA, which came into effect on July 1, 2020, replacing the North American Free Trade Agreement. As per the agreement, the three parties must confirm their commitment to the USMCA for another sixteen years after the six-year period.

Our trade policy correspondent in Washington, DC — Omar Nashashibi of The Franklin Partnership — sheds light on the agreement's specifics and what to anticipate.

Transshipment of Goods Receiving Additional Attention

Officials on both the policymaking and trade enforcement side of the U.S. government are increasingly looking at the transshipment of goods through third countries as a form of tariff evasion.

Our trade policy correspondent in Washington, DC — Omar Nashashibi of The Franklin Partnership — reflects how, in the past few months, we are seeing additional scrutiny of goods entering the U.S. from countries not known as major producers of those imports or from countries seeing a spike in imports from China or other countries.

Customs and Border Protection Action on De Minimis

On May 31, 2024, U.S. Customs and Border Protection (CBP) issued a statement announcing it was suspending multiple customs brokers for posing “an unacceptable compliance risk” for de minimis shipments entering the U.S.

Our trade policy correspondent in Washington, DC — Omar Nashashibi of The Franklin Partnership — discusses the impact the action has on companies importing products valued at $800 or less that were brought into the U.S. under the Entry Type 86 Test, a CBP pilot program allowing for the electronic processing of certain products under the de minimis threshold.

How we can help

CLA’s manufacturing and distribution professionals and international business advisors can help you assess the impact of tariffs on your operations and craft short- and long-term strategies for competing amid the trade war.

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