Tariff Rules Have Shifted. Now What?

The United States’ dependency on foreign commodities and imports is tied to countries and regions previously targeted for increased tariffs—some as high as 54%. Even with certain measures currently paused, industries like steel and aluminum, footwear and apparel, wine and spirits, consumer electronics and appliances, automotive, and agricultural and food products remain highly exposed to ongoing policy shifts and trade uncertainty.

While some tariff increases have been paused, the proposed policies—and the uncertainty around them—are already influencing global trade behavior. Businesses are reevaluating sourcing strategies, pricing models, and supplier relationships in anticipation of future changes. The potential for retaliation or reactivation of tariffs continues to shape decisions on both imports and exports across key industries.

$1.3 trillion in products and commodities consumed by U.S. households and businesses are imported from China, Mexico, and Canada (2024 data), representing 86% of all goods brought into the country. While some proposed tariff hikes have been paused, others—especially those involving China—are still expected to move forward, driving pricing uncertainty and supply chain recalibrations. Consumers may still face higher costs as businesses prepare for future increases. Economists warn that unless tariff increases on more than 75 trade partners are renegotiated or paused under the pending retreat, U.S. households could see an annual tax burden rise by $2,100 to $2,500. Projected GDP growth remains around 2%, with global trade dynamics continuing to shape consumer demand and economic performance.

Businesses heavily engaged in foreign trade will likely face significant ripple effects from the new tariff policies. Key areas of impact include pricing strategies for imported goods, duty mitigation opportunities, and margin erosion tied to rising costs and economic volatility. Many organizations will need to revisit supply chain structures, logistics costs, and sourcing dependencies—while also adjusting financial models and trade negotiations to reflect the new landscape.

No. Rather than pivoting into direct trade or tariff regulatory compliance, RGP will continue to align its core consulting services to areas where we bring deep, proven expertise. We’ll support clients impacted by tariff changes through strategic capabilities such as financial modeling, sourcing, supply chain planning, and risk mitigation, but will not engage in regulatory trade compliance services outside our specialization.