As businesses around the globe struggle to make sense of the rapidly changing tariff landscape, we thought it would be helpful to share a broader perspective from the economics consulting team at ITR Economics, a Crowe LLP subsidiary. Learn how tariff policies impact choices that businesses and consumers make over time as well as which imports are more likely to be affected. We think you will enjoy the read and the perspective.
Here’s a preview of what you will find when you download the excerpted content, originally published by ITR Economics as a part of its April 2025 Trends Report:
"Tariffs are a tax hike and, like many other taxes, the goal is not just revenue but also a change in behavior: 'Buy American!' We have been talking about this shift toward economic nationalism and de-globalization for years. Tariffs forcibly accelerate this trend and are likely to cause some pain – you cannot change where your manufacturing plants are and what they make overnight. If your whole supply chain is onshore, you may have just gained more business or an ability to increase prices. However, many companies have complex supply chains and source and produce both within and outside of the US. We are in for a supply chain scramble as those businesses search for domestic sources of inputs and, when possible, shift production across plants. However, the US does not currently have the ability and capacity to produce every part and product needed, so a big part of the adjustment ahead of us is going to be in pricing.”
Contact the teams
We hope you find this perspective helpful. Contact us to learn more about ITR Economics and Crowe LLP and how each team can work with you.
