Since Donald Trump took office again, trade tariffs have once again become the focus of global economic rhetoric. Discussions about protectionist measures, new trade barriers and possible retaliatory tariffs are in full swing. But what exactly is behind it, and what effects do current developments have on companies and supply chains?

The return of the “America First” trade principle

Already in his first term of office from 2017 to 2021, Trump relied on an aggressive tariff policy to protect the US economy and eliminate trade imbalances. Now, with his return to the White House, discussions about possible import tariffs on products from China, the EU and other trading partners are intensifying once again.

The following measures in particular are currently under discussion:

• Increased tariffs on Chinese goods: Trump had already imposed punitive tariffs on China in the past. It is now being discussed whether these will be extended or tightened again.
• Trade dispute with the EU: The USA and the EU are once again in a potential conflict over subsidies and trade practices that could lead to tariff increases on both sides.
• New protectionist measures for US companies: The promotion of domestic production through tax incentives and import duties is being stepped up again.
• Relocation of production sites: Companies around the world are examining whether it makes sense to move production facilities from affected countries to other regions in order to avoid punitive tariffs.
• Stronger controls and customs formalities: In addition to tariff increases, increased controls and new import regulations could further slow down international trade in goods.

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Uncertainty about new tariffs is leading to challenges for companies worldwide:

• Increasing costs for imported goods: Companies must prepare for higher costs for imported products.
• Restructuring supply chains: Companies are increasingly looking for alternative sources of supply outside the affected regions.
• Retaliatory duties from other countries: Countries such as China or the EU could take countermeasures, which would further impact international trade.
• Changed investment strategies: Companies are rethinking their long-term investments and warehousing strategies in order to be able to react more flexibly to new customs regulations.
• Impacts on SMEs: Small and medium-sized companies, which have fewer resources to respond to new trade barriers, could be particularly affected.

The new tariff debates under Trump are causing considerable uncertainty in international trade. Companies must prepare for higher costs, possible retaliatory measures from other countries and more complex logistics processes. While some industries could benefit from protectionist measures, many companies are facing new challenges.