How Food and Beverage Companies Can Navigate Tariffs and Trade Policies
After being removed from the arsenal of many countries’ economic policies in the second half of the 20th century, tariffs are back as part of what some have characterized as an escalating trade war between the United States and others. Significant tariffs on aluminum, steel, and other inputs imposed by the US, China, and EU since the start of 2018 have already taken a toll on food and beverage companies, and more could be on the way.
In the latest edition of our Food for Thought series, we examine the effects that tariffs already having on the food and beverage industry. And we look at ways that organizations can better prepare for additional tariffs and potentially lessen those effects, including:
- Quantifying their potential exposure.
- Transforming global supply chains.
- Managing and targeting price changes.
- Anticipating competitors’ actions via game theory.
- Purchasing trade credit insurance.