Robert Shapiro, chair of Thompson Coburn’s international trade practice, spoke to Law360 about President Trump’s announcement that the U.S. will explore imposing reciprocal tariffs that equal rates levied by other countries importing American products.
Robert noted that Trump’s new tariff proposal would “increase complexity substantially” for importers, forcing them to comply with what could be exponentially more duty classification requirements to bring goods into the U.S. “I think it’s going to create compliance nightmares.”
He added that the increased uncertainty associated with the actions on trade will broadly increase the costs of business and the need to build in a greater margin for uncertainty. “You’re going to see a lot more clauses in purchase orders and acceptances that have an out for if tariffs go up.”
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