2024 saw a rising tide of import duties – or at least the threat of them – between the world’s largest economies. But tariffs are a blunt weapon that can have unintended consequences, and a global trade war in 2025 is in nobody’s best interest.
Trading tariffs
UHY experts in the US and Australia consider the pros and cons of tariffs and free trade, in this article from UHY Global magazine, published in January - before the new US administration had confirmed and implemented its current strategy. They look in particular at the automotive industry, food and drink.
The long-term impact of tariffs is often increased protectionism for an industry sector, giving it less reason to increase output or efficiency
This article was first published in UHY Global magazine issue 19, in January 2025, and is reproduced with permission.
