A new report shows that the current volatile environment surrounding tariffs and global trade has many trade professionals clearly concerned and looking for ways to mitigate costs, diversify supply chains, and navigate the current choppy seas
As tariffs become an increasing challenge to any foreign or domestic company that is even tangentially involved in global trade, many global trade professionals are admitting they’re concerned and searching for the best ways to manage this volatile time.
In today’s environment, companies face significant hurdles in their ongoing operations due to tariffs imposed by the United States government and by other countries seeking countermeasures to the tariffs imposed by the US. These tariffs are impacting costs, disrupting supply chains, affecting market competitiveness, and creating regulatory and compliance issues for companies across a multitude of industries.
To study this issue further, the Thomson Reuters Institute has published its new 2025 Tariffs survey, which sought insight from almost 300 corporate global trade professionals to better understand the compelling issues around the current tariff environment and the impact on how they conduct their operations today.
Almost three-fourths of respondents said their companies are already changing or are considering changing sourcing patterns to better manage US-imposed tariffs.
Yet, even as we publish this critical survey, we also recognize that this ongoing situation is extremely volatile. Indeed, since our survey was conducted, President Donald J. Trump announced his Liberation Day tariffs on April 2, targeting dozens of countries with tariffs on a wide range of goods. However, even as these new tariffs sent shockwaves through global markets, President Trump paused implementation of a large portion of those tariffs for 90 days on April 9.
Key findings
Some of the key findings revealed in the survey report include:
-
-
- Survey respondents from US-based companies said they believe about a quarter of their imports are at risk because of US-imposed tariffs; and they also said a similar portion of their exports may be at risk because of potential countermeasure tariffs imposed by other countries.
- Respondents from companies based outside the US said they believe an average of 20% of their goods coming from the US may be at risk because of countermeasures to US tariffs imposed by other countries; and they also said that a slightly larger portion of their exports into the US are at risk because of US-imposed tariffs.
- As to ways to mitigate these challenges, almost three-fourths of respondents said their companies are already changing or are considering changing sourcing patterns to better manage US-imposed tariffs, such as renegotiating contracts with suppliers or frontloading inventory.
- Almost two-thirds of respondents said their companies are using technology solutions that provide tools for analyzing trade lanes; and more than half said they are using technology solutions for identifying potential risk factors and strategies such as locating less costly trade routes and mapping supply chains.
-
Looking ahead on trade & tariffs
The current situation around global trade and tariffs are clearly an avalanche of serious challenges for any company engaged in international trade. And much of this upheaval is unavoidable because it affects all countries that conduct trade with the US, although some countries clearly will be hit harder than others.
During this time, companies involved in global trade need to remain focused on staying as flexible as possible, especially around their supply chains. It’s also a good time for companies engaged in trade to find quality partners — such as tech and software solution experts and managed service professionals — to help guide them through these choppy waters.
You can download a copy of the “2025 Tariff survey” here by filling out form below:
