Cross-border Tax Talks

Tariffs  and Taxes:  Retaliation & Retribution 

Doug McHoney (PwC’s International Tax Services Global Leader) is joined by Chris Desmond, PwC’s US Global Trade Services Leader to catch up on the latest customs and trade happenings. Doug and Chris talk about Chris’s transition from a transfer pricing partner to specializing in customs and trade, the potential US tariffs environment post election, how companies might respond with supply chain changes, the impact of the recent Mexican and Canadian tariffs, the use of tariffs as a retaliatory action, how tax authorities are leveraging customs data, as well as the importance of modeling, documentation, and data gathering. 

Timestamps:

• 1:25 - How would Chris assess the Chicago Cubs baseball season this year? 
• 3:30 - What does Chris work on at PwC and how did he get into customs and trade? 
• 6:30 – Where are we from a US custom and tariffs prospective?  
• 9:30 – What are some of former President Trump tariff proposals moving forward? 
• 12:00 – How have you seen US Multinationals change since the recent emergence of tariffs? 
• 15:20 – What is happening with tariffs in the US and Mexico? 
• 19:45 – What is the Mexican maquiladora regime? 
• 25:00 – Do taxpayers have the necessary data to comply with these new tariffs? 
• 27:10 – How are tariffs being used as retaliatory measures and what role do digital services taxes play? What is the status of Amount A? 
• 30:00 – What happens when the Undertaxed Profits Rule under Pillar Two comes into effect? 
• 32:40 – Any customs and trade trends happening in Asia? 
• 36:55 – What advice does Chris have for taxpayers in light of uncertainty? 

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