The 3 steps smart CEOs are taking in a volatile tariff environment, according to the head of a major global leadership advisory firm
Leadership
Tariffs and economic uncertainty have CEOs worried, and many are taking their case directly to Washington, DC, but in the meantime, Constantine Alexandrakis, CEO of Russell Reynolds Associates, says they are focusing on strategy, balancing confidence with humility about the challenges they're facing and focusing on customers. "It's meant to counteract the negative impact of being too inwardly focused at a time where the world is shifting, and you don't want to miss any of your customers' move," Alexandrakis says.
Full Story: Yahoo/Forbes (05/2)
U.S., China Agree to Large Tariffs Cuts; Stocks Surge
Trade
The US and China have agreed to significantly reduce tariffs of each other's goods for 90 days, marking a major de-escalation in the trade war. The deal, reached after negotiations in Geneva, will see the US lower tariffs from 145% to 30% and China from 145% to 10%. "We do want trade. We want more balance in trade. And I think both sides are committed to achieving that," US Treasury Secretary Scott Bessett said.
Full story: The Wall Street Journal (05/12)
Maintaining accurate country-of-origin certifications under federal awards amidst increasing tariffs
With supply chains potentially shifting, maintaining compliance with regulations requires enhanced diligence
Country-of-origins certifications are essential under various federal laws like the Buy America Act and the Trade Agreements Act, writes Jayna Marie Rust, a partner at Thompson Coburn. These certifications are critical for legal compliance, as inaccurate certifications can lead to criminal or civil charges. Companies must constantly review and update their supply chain documents to ensure compliance with country-of-origin requirements, especially amidst fluctuating tariffs, Rust writes.
Full story: Supply Chain Management Review (05/05)