In the Headlines
March 17, 2025
Trump Tariff Relief Hinges on Getting Contract Language Right
Bloomberg Law
International Trade attorney Ronald Oleynik was quoted in a Bloomberg Law article discussing the complexities businesses face as a result of President Donald Trump's tariffs. As companies rush to adjust their commercial contracts in light of the 25 percent tariffs on goods crossing the Canadian and Mexican borders, Mr. Oleynik provided guidance on strategic measures to mitigate their effects. He recommended that businesses first seek tariff exclusions, explore alternative supply chains and, if necessary, negotiate cost-sharing arrangements with partners to protect their profit margins. He also advised companies to strategize ways to pass on costs when they can't be reduced.
"Twenty-five percent might take away all profit margin and might take away the ability to continue an operation. So, then we've got to figure out a way, if we can't reduce it, to pass it on," he said.
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"Twenty-five percent might take away all profit margin and might take away the ability to continue an operation. So, then we've got to figure out a way, if we can't reduce it, to pass it on," he said.
READ: Trump Tariff Relief Hinges on Getting Contract Language Right (Subscription required)