White Paper

In 2025, escalating trade tensions and new waves of U.S. tariffs, coupled with retaliatory measures from major economies like China and the EU, are reshaping the global trade landscape. Tariffs have evolved from mere policy tools to strategic levers of industrial policy, signaling a structural shift that impacts businesses far beyond the supply chain. 

This paper explores the broader implications of tariff exposure on business models, from corporate governance and transfer pricing to tax planning and commercial strategies. By analyzing recent and historical tariff regimes, it provides actionable insights, highlights key organizational risks, and proposes strategic levers to enhance resilience. 

Executives are encouraged to view tariffs not as isolated disruptions but as indicators of deeper policy shifts, requiring a realignment of operating models to thrive in an era where volatility is the norm.