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

  • Industry trends
  • 5/9/2024
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.  

GSP, Duty-Free De Minimis Exemption, and More

While both parties support the need to renew the Generalized System of Preferences (GSP) and address de minimis imports, no Democrats voted for the bills in committee, says our trade policy correspondent in Washington, DC — Omar Nashashibi of The Franklin Partnership.

Sources in Washington indicate — should a trade package come together later this year — Democrats would likely continue insisting on pairing Trade Adjustment Assistance (TAA) with GSP and de minimis. House Republicans believe TAA is a separate topic, traditionally paired with Trade Promotion Authority.

The Ways and Means Committee also addressed a more controversial topic — ending China’s ability to import into the U.S. duty-free under the de minimis exemption. Watch the video to learn more.

301 Action on Shipbuilding, Steel and Aluminum from China

Five labor unions recently filed a petition with the U.S. Trade Representative alleging China’s actions are increasing their excess shipbuilding capacity, depressing prices, placing restrictions and burdens on inputs, and providing unfair advantages Chinese companies. The petition claims the Chinese government is using industrial policies to increase its market share while also directing mergers and providing financing and non-market advantages to Chinese firms and tolerating intellectual property theft. Our trade policy correspondent in Washington, DC — Omar Nashashibi of The Franklin Partnership — discusses how these alleged actions — along with the control of shipping freight rates, capacity, allocations, and creating a network of upstream suppliers — are harming U.S. workers and companies.

Supply Chain Impacted by Baltimore Bridge Collapse

The Port of Baltimore is one of the few in the nation that ranks in the top 20 busiest in total tonnage rank, dry bulk rank, and overall container traffic. The port is a major thoroughfare for commodities, components, and finished products heading in and out of the United States. Our trade policy correspondent in Washington, DC — Omar Nashashibi of The Franklin Partnership — reviews the impact to supply chains, the timeline for reopening the various transitways, and potential federal government support, including financial, since the collapse of the Key Bridge in Baltimore.

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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