Tariffs and the threat of tariffs…it’s a new age of bargaining being wielded by the White House as well as other countries in response. And whether your view of this is positive or negative, as with any move in global trade, there are implications to consider for your packaging strategy. In fact, there are even a number of reasons to be bullish on the future, especially with U.S.-based manufacturing.
To put things in perspective, here is an excellent graphic from Statista that shows what has happened thus far on the tariff front:
To help make sense of this and what it means for your flexible packaging needs, here are some quotes from Portco’s Rich Castillo, VP of Operations:
And now a quote from Portco’s VP of Sales and Marketing, Linda Malmstadt:
And now, with a deal just struck with Mexico (warding off a trade war on the home front), the current administration is pushing back even more on China. More tariffs could be levied. We know this is more than just a threat having seen the current action on tariffs come to pass. So, the time for planning and action is now. Don’t get caught in a bad tariff position.
Some Good Tariff Articles for Further Reading
Here are some additional resources to consider when looking into the current trade war and how it might impact your company.
Trump levels new tariff threat against China, defends Mexico showdown
US Stocks Climb After US Suspends Tariffs on Mexican Goods
Tariff Battle With Mexico Ends, But What About Trade War With China?
One Tariff Crisis Is Averted. What’s Next?