Gregory Husisian Featured in Q&A on How Tariffs are Impacting Businesses
Foley & Lardner LLP partner Gregory Husisian is featured in the Supply Chain Digital article, “Trump Tariffs: What Businesses and Importers Need to Know,” where he offers key insights into the rapidly shifting tariffs and trade landscape and highlights the most pressing issues facing businesses – stressing that “in a high-tariff, high-penalty world, getting import-related compliance right has never been more important.”
Husisian discusses how importers are restructuring supply chains amid shifting trade policies and advises businesses to “brace for higher costs” and “potential market retaliation.”
He says, “In the short term, importers are looking to front-load critical inventory and to identify import-related risks” and “companies also are reviewing all their buy- and sell-side contract to determine tariff vulnerabilities and what types of coping mechanisms are available to them” but “in the longer term, companies are looking to set up more flexible sourcing strategies, such as by qualifying additional and secondary suppliers.”
Husisian also commented that “a new 20% tariff on Chinese imports is reinforcing the long-term shift away from China” and “the tariff proclamations have emphasised that Customs needs to be prioritising enforcement of the China tariffs.” Regarding tariffs on Canada and Mexico, he recommends that “auto manufacturers and cross-border suppliers should be risk planning for the potential full return of these tariffs and should be taking all steps to document their compliance with whatever the current state of rules is, due to Customs heavily focusing on claims of originating status under the USMCA.”
