Gregory Husisian on Reciprocal U.S. Tariffs – 'Don't be taken by surprise this time'
Foley & Lardner LLP partner Gregory Husisian is featured for his insights on the Trump administrations proposed reciprocal tariffs across media, including in CNN here and here and Manufacturing Dive.
Pointing to specific targets like steel, Husisian said in Manufacturing Dive that the tariffs could increase operational and supply costs for manufacturers that rely on steel inputs.
Husisian, who co-chairs the firm’s International Trade & National Security Practice, noted though that much remains unclear, including how exactly the new trade actions will interact with existing steel tariffs enacted during President Trump’s first administration or how far the tariffs will reach into downstream steel products.
Adding that higher tariffs could push more manufacturers to pivot to the domestic steel market, he cautioned that increased demand for U.S. steel is unlikely to generate significant job growth.
“The one thing I know it won’t have a big impact on is U.S. steel manufacturing jobs,” Husisian emphasized. “The idea that we’re ever going to be anywhere near the 300,000 manufacturing steel jobs that we had at one point is just never going to happen.”
Husisian identified several products in CNN where reciprocal tariffs could cause companies to shift the extra costs onto consumers, including medical-grade gloves, which historically are not widely produced domestically, household appliances like microwaves and washing machines that rely on resistors and capacitors produced outside the United States, and European cars.
To mitigate the impact of tariffs, Husisian said now is the time for manufacturers to create plans for alternative suppliers as well as plans for added supply chain, pricing, and contractual flexibility.
“A lot of people were taken by surprise in the first Trump administration,” he concluded in Manufacturing Dive. “Don’t be taken by surprise this time. He is very serious about this, he has a playbook.”
Husisian’s comments also appeared in MSN.
