Gregory Husisian on Companies Bracing for New Trade Approach – 'Customs and tariffs are numbers 1, 2, and 3'

Foley & Lardner LLP partner Gregory Husisian shared insight on companies with global supply chains are gearing up for a potential influx of tariffs under the new presidential administration in the Bloomberg Law article, “Tariffs, Supply Chains Worry In-House Counsel After Trump Win.”

“For international trade risk that multinationals and GCs are thinking about, I think customs and tariffs are numbers one, two, and three,” Husisian emphasized, noting the time it takes to adjust supply chains.

Though it remains uncertain what goods will be targeted with tariffs or at what rates, several possible trade actions were suggested during campaign season by President-elect Trump, including the imposition of a high tariff on Chinese goods and a universal tariff on all imported goods.

“A lot of people right now are saying, ‘OK, how seriously do I need to take all these election promises?’” Husisian added. “And I think most people are concluding this is the one area where I really need to take it seriously, because he already has done it once.”