As it stands today, the U.S. has imposed a 10% tariff on China and is ready to impose 25% tariffs on Mexico and Canada later this month—affecting over $1 trillion in imported goods. Of course, this could all change tomorrow. Such is the volatility manufacturers operate in today.
It’s hard to say what tariffs will hit when, but it’s safe to assume that when they do, the impact will be monumental. To maintain profitability and keep strong customer relationships, manufacturers should be ready to adjust their pricing accordingly and communicate those changes well. History has taught us that companies that move quickly to adjust pricing tend to maintain profitability better than those who hesitate.
Read more here https://www.industryweek.com/leadership/change-management/article/55266580/tariffs-and-pricing-adjustments-a-roadmap-for-manufacturers
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