2025 is just around the corner, and it promises to bring new opportunities and challenges to the cross-border trade and logistics sector. With the U.S. elections in November generating speculation about tariffs and trade negotiations, businesses need to prepare for significant changes.

Key Predictions for 2025

1️⃣ New and Higher U.S. Tariffs

President-elect Donald Trump has announced plans for substantial tariffs upon taking office in 2025. These include a 10% across-the-board tariff on all imports and potentially up to 60% tariffs on Chinese goods. Such measures are poised to disrupt global trade patterns, increasing costs for both businesses and consumers.

2️⃣ Retaliatory Tariffs from Affected Nations

Countries like China, Mexico, and Canada are expected to retaliate with their own tariffs on American products. This could heighten trade tensions and impact global economic stability.

3️⃣ Diversification of Supply Chains

To counteract the effects of higher tariffs, businesses are likely to diversify their supply chains. This may involve sourcing materials and products from nations not subject to elevated tariffs, benefiting emerging markets and reshaping trade relationships.

4️⃣ Increased Trade Barriers Globally

The trend of rising trade barriers is not limited to the U.S. Other nations are likely to impose tariffs, particularly targeting countries with significant trade surpluses like China. This shift towards protectionism could redefine global trade dynamics.

5️⃣ Trade Agreement Renegotiations

Higher tariffs may trigger the renegotiation of existing trade agreements, such as the U.S.-Mexico-Canada Agreement (USMCA). These discussions could lead to revised trade terms, impacting businesses operating across borders.

Navigating These Changes with Confidence

At Trade Duty Refund, we specialize in helping companies manage the complexities of cross-border trade and recover duties efficiently.

Schedule a meeting with our team of experts to plan for a successful 2025!