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Recent US and global trade policy developments may have caused paralysis at first. But in the face of persistent uncertainty, many companies are recognizing the need to press ahead with change: to modernize their trade programs and make their operating footprints more nimble.
Most companies are climbing a steep learning curve about trade’s impact on business strategy, operations and competitiveness. Tariffs are one among the many drivers of change. New trade alignments and automation opportunities, along with disruptions like the coronavirus crisis are all adding up to a perfect storm for companies. Companies must analyze multiple business, operations and tax and tariff scenarios, understand the costs of different supply chain configurations as well as opportunities and make informed decisions quickly.
2021 Tax Policy Outlook: The Changing Horizon
Global trade will play a key role in economic recovery efforts in the United States and around the world. With many of the world’s major economies forecast to be still smaller at the end of 2021 than in 2019, what does that mean for your business? Find out more about the impact of trade relations on economic recovery in our 2021 Tax Policy Outlook.
What actions can you take?
You need a modern, automated trade program that connects data from across the organization and empowers a cross-functional team of experts to review and revise pricing, sourcing, and manufacturing decisions, as events unfold. The goal is a fast and flexible global footprint – so you are ready to respond no matter what the future brings. At the same time, a tough regulatory environment calls for a strong compliance foundation for sanctions, export control requirements, CFIUS and customs regulations.
Our network of business specialists brings you the interdisciplinary perspectives needed to make your trade strategy work for your business. From economic impact on your industry, to trade legislative developments, to customs and tax planning and from product innovation to supply chain performance, we can help you navigate the uncertainty, speed up your cross-border activities, address your compliance requirements and keep you ahead of competition.
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Principal, Customs and International Trade National Practice Leader, PwC US
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