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Aspiring Lawyers - Interviews & Vacation Schemes
Commercial Awareness Discussion
The impact of tariffs on business and law firms
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<blockquote data-quote="Jaysen" data-source="post: 310" data-attributes="member: 1"><p>Agreed, these are all good points.</p><p></p><p>A few extra thoughts - I would also note that it would affect manufacturers and exporters in different ways. If a US manufacturer imports its raw materials from overseas their costs will rise. So that may cause them to raise prices or absorb the cost, which affects their profits. But if they also export their product to a German carmaker, for example, they will be hurt because their goods become more expensive to foreign buyers.</p><p></p><p>The latter point means that it's not just manufacturers who will suffer in a trade war. If tariffs rise across countries, multinationals who export will suffer due to falling sales (unless of course, the type of good they produce is rare or cannot be produced domestically/by a country not involved in a trade war).</p></blockquote><p></p>
[QUOTE="Jaysen, post: 310, member: 1"] Agreed, these are all good points. A few extra thoughts - I would also note that it would affect manufacturers and exporters in different ways. If a US manufacturer imports its raw materials from overseas their costs will rise. So that may cause them to raise prices or absorb the cost, which affects their profits. But if they also export their product to a German carmaker, for example, they will be hurt because their goods become more expensive to foreign buyers. The latter point means that it's not just manufacturers who will suffer in a trade war. If tariffs rise across countries, multinationals who export will suffer due to falling sales (unless of course, the type of good they produce is rare or cannot be produced domestically/by a country not involved in a trade war). [/QUOTE]
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The impact of tariffs on business and law firms
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