On September 9, a major professional services firm in Austin organized an event that brought together C-suite leaders, local executives, and strategists to discuss the current landscape of global trade, tax policy, and planning. The main goals were to examine recent geopolitical developments affecting businesses in 2025, assess the impact of tariffs, and highlight how tax and global trade planning are interconnected.
The event took place at a time when tariff rates have reached levels not seen in nearly a century. Some tariffs now stand at 50% on metals and 25% on cars and car parts. After an initial presentation outlining these changes, Taylor Sisson, EY Austin Office Managing Partner, and Michael Heldebrand, Tax Partner in the firm’s Global Trade practice, led discussions with attendees about the challenges businesses face as well as possible opportunities.
The session provided practical insights into how shifts in tax policy and trade are influencing supply chains and pricing strategies. It aimed to help business leaders navigate uncertainty with greater confidence.
Looking ahead, the EY team presented several potential scenarios for future tariffs. One scenario involves continued tariffs between the US and China while US allies such as the EU work to restrict sensitive exports to China. Another scenario sees the US acting alone by imposing more tariffs and encountering strained negotiations with partners like Japan, India, and Australia. These examples illustrated how tariff decisions could affect everything from supply chain management to legal compliance.
EY leaders advised businesses not to delay action regarding tariffs. They recommended reviewing agreements with vendors and customers for adaptability, ensuring customs bonds are adequate for possible clearance delays, analyzing import/export data using Automated Commercial Environment (ACE) tools, and updating customs classifications as needed.
Attendees were also encouraged to consider options such as optimizing customs valuation or separating dutiable from non-dutiable products to better manage tariff impacts.
Data from the latest EY-Parthenon CEO Outlook Survey shows that most chief executive officers plan significant changes to their supply chains over the next three to five years—71% in the US (up from 54% in 2024) and 77% in Europe (up from 61%). In addition, 69% of US manufacturers have already started moving operations back domestically (“reshoring”), with 93% intending to speed up this process within two years.
“You can see some key trends already emerging in how companies are responding to tariffs, but there’s a chance these numbers will be very different next quarter,” said Heldebrand. “That’s why it’s important to take a proactive but flexible approach to your tax and trade policy — so you can adapt to what the future will bring.”
For more information about corporate tax developments or calculating tariff impacts on your business visit https://taxnews.ey.com/register/.
The article notes that its views reflect those of its author rather than Ernst & Young LLP or other members of its global organization.
