A recent survey shows that many businesses aren’t taking any action to address the effects of tariffs:
“One third of businesses are taking no action to mitigate tariffs. Seeking components and assembly outside of China is the most popular remedy (20%) to avoid the impact on operations in China. This is followed by applying for tariff exemptions (15.7%), finding alternative sourcing within China (12.8%), and shifting production out of China entirely (11.7%).”
P.S. Tariffs could increase costs throughout the supply chain. 8th & Walton advisors help suppliers run a nimble business and keep costs down as much as possible — whether their production is state-side or international. Work with our advisors to stay ahead of changes that could impact your business. Book a consultation today.