Beyond tariffs, to read the other chapters in this publication, click here.
Companies can be challenged by a wide range of trade-related developments, falling broadly into two camps: tariffs and duties, and non-tariff barriers. KPMG has identified more than 50 such trade levers overall. Those in the tariffs and duties category include:
Non-tariff barriers can include:
When any of these developments surface, companies need to be able to quickly determine what the qualitative and quantitative impacts will be on their businesses, and identify the levers available to address them. They need the flexibility in their modeling tools to do this again and again as each scenario changes in this ever-changing environment. They also need to begin calculating what the cost of insulating their value chain from such geopolitical risks might be. KPMG has calculated that companies can reduce their tariff burden by about 25 to 50 percent, on average, using a variety of strategies pioneered by companies that have operated in historically high-tariff industries.1
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Jerry Thompson
Principal, Tax
KPMG in the US
Christopher Young
Principal, Tax
KPMG in the US
Grant Wardell-Johnson
Head of Australian Tax Centre
KPMG in Australia
Alfonso Pallete
Latin America Head of Markets, Americas Tax*
KPMG in the US
Olivier Sorgniard
Director, Trade and Customs
KPMG in the UK
* KPMG Americas Ltd. is not an accounting firm and is not licensed or registered to practice accounting in any jurisdiction.
1. “Global Trade: The Evolving World Order,” pg. 15, KPMG International, 2019
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