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Reshoring Revolution: How Companies Adapt Supply Chains to Tariffs, Legislation and Market Forces
This turbulent year has brought sweeping changes, challenges and incentives for companies worldwide—especially when it comes to tariffs. Following “Liberation Day” on April 2, when US President Donald Trump imposed a 10% tariff on nearly all foreign imports, businesses scrambled to re-evaluate their supply chains in light of higher costs and fluctuating rates. Strategies include diversifying manufacturing locations and sourcing of raw materials, even reshoring certain operations away from China. At their peak, US duties on Chinese goods surged to 145%. Though those tariffs have since eased to 30%, multinationals are continuing to look at their options and make…