The trade war initiated by President Trump has varying impacts on companies, with some finance leaders acknowledging the repercussions during a recent CFO Leadership Council conference. While some businesses believe they are insulated from tariffs, rising vendor prices reveal that the effects are more widespread than anticipated. Consultant Colin Haynes emphasized the importance of proactive measures, such as verifying product classification codes, developing compliance plans, checking invoices meticulously, considering redesign strategies to reduce duties, and preparing financially for ongoing tariff challenges.

Source: https://www.supplychaindive.com/news/tariff-tips-tales-cfo-leadership-conference-import-duties/750056/