How do Trump’s Tariffs impact Law Firms and Clients?
Impress law firms by discussing how Trump's tariffs impact Law Firms and their Clients.
Hi ZipLawyer! Trump's gone full Tariff-mode so you may be wondering: what does this mean for Law Firms and their clients?
Today we are looking at 6 types of clients which will be most impacted by the tariffs and how law firms will assist them!
What's the current Tariff situation?
Yesterday, Trump mentioned he plans to impose 25% tariffs on all imports of steel and aluminium into the US.
However, it’s uncertain whether he’ll follow through as he already announced, then paused, tariffs on Canada and Mexico, while going ahead with a 10% tariff on all shipments from China. China responded with its own tariffs including a 15% tax on imports of US coal and liquefied natural gas products.
1. Multinational Corporations (MNCs)
Impact on clients:
- Higher costs on imported materials and products.
- Supply chain disruptions, especially for companies reliant on Chinese manufacturing.
- Potential retaliation from foreign governments, affecting international operations.
Impact on Law Firms:
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