Well, the transatlantic tariffs situation is still not clear. At the time of writing it seems that there will be a 50% tariff imposed on EU goods by the USA from 1 July. But this deadline has already been postponed once, and maybe again. And the size of the tariff may change. And then again, the courts have decided that the current tariffs should are not permissible in law and if the US government wishes to apply then it has to be done by Congress, and not by the Executive claiming (rather ridiculously*) an economic emergency.
I do not pretend to know what is going to happen, but as Procurement and Supply Chain professionals we should take this chance to shine within our own organisations. This period of high volatility will create both challenges and opportunities.
We need to be constantly reviewing the situation and developing (then implementing) appropriate plans.
Obviously we have to consider what it will mean if there are tariffs or reciprocal tariffs in our supply chains. We need to check what these are (or might be) and then consider our supplier's approach is going to be. Some will take this as an opportunity to raise prices to the full extent of tariff rate (even if there is a draw back arrangement, or if tariffs only apply to half of the product...). Others (dare I say more sensible) will see this as an opportunity to have more dialogue with their customers ("we don't know any more than you do, but we have to work together...").
But don't forget the opportunities that might arise from displacement effects - Chinese and EU goods unable to win market space in the USA because of high tariffs will look to find other customers. This might lead to price reductions as they seek to gain space in currently well served markets.
Whether we want to take advantage of that (risking existing relationships for a possibly temporary advantage) is of course the sort of thing we ought to be discussing internally and developing appropriate strategies.
Good luck
* The Global Financial Crisis of 2008/9 and Covid-19 in 2020 were obvious economic emergencies. The USA in 2025 was the fastest growing major economy, had actually caught up the growth trend line from before Covid, had 4% unemployment (technically full employment) and 2.5% inflation (just 0.5% above target) - Clearly not an emergency, though of course governments are free to adopt whatever policies they wish following due process.
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