After meetings with G7 finance leaders in Banff, Alberta, Treasury Secretary Scott Bessent said President Trump is dissatisfied with the European Union’s trade proposals and is pushing for better terms. Trump has recommended a 50% tariff on EU goods starting June 1. Bessent noted that while other countries like India are negotiating in good faith, the EU’s offers fall short.

Trump also warned of a possible 25% tariff on iPhones made outside the U.S., signaling a broader goal of reshoring advanced manufacturing, especially in the semiconductor supply chain.

While these developments are not official, uncertainty remains. Just last week, tariffs on China were reduced, and as discussions continue with multiple global partners, we may see additional adjustments before the 90-day tariff pause ends in July.

We understand how challenging it can be to plan amid shifting trade dynamics. Our team is here to help you stay informed and navigate this period of uncertainty with confidence. By staying flexible and focusing on long-term strategy, we can help you weather short-term disruptions and maintain stability in your supply chain.