Survey on Gauging the Impact of Tariffs
The vast majority of respondents have set up teams reviewing the impact of tariffs. The departments taking the lead to communicate and report are procurement and finance, legal, trade compliance, and purchasing/logistics. All companies actively review options to mitigate risks due to a potential trade war. Three-quarters of companies plan to pass on the cost of tariffs to their customers. Two-thirds of those will pass on 100% of the tariff. There was no consensus about the scope of impact of Section 232 steel and aluminum tariffs on any company's business. About two-thirds of companies have not filed for any tariff exclusions (Section 232). Most responding companies use direct contact with government representatives and trade associations but not direct employment of lobbyists.