On September 9, EY, Austin’s largest professional services firm, hosted an event that brought together C-suite leaders, local executives and strategists to discuss the current state of global trade, tax policy and planning. The meeting focused on how businesses are navigating geopolitical events in 2025, calculating the impact of tariffs, and recognizing the interconnected nature of tax and global trade planning.
Tariff rates have reached levels not seen in nearly a century. Some tariffs now stand at 50% for metals and 25% for cars and parts. During the event, Taylor Sisson, EY Austin Office Managing Partner, and Michael Heldebrand, Tax Partner in EY’s Global Trade practice, led discussions with attendees about challenges facing businesses as well as available opportunities.
The session included analysis of potential future scenarios regarding tariffs. One scenario involved continued US-China tariffs while the US collaborates with allies like the EU to limit sensitive exports to China. Another scenario envisioned the US acting alone by imposing more tariffs amid difficult negotiations with partners such as Japan, India and Australia. These discussions highlighted how tariff changes can affect pricing strategies, supply chains and compliance risks.
EY leaders emphasized that companies should move from worrying about tariffs to taking action. They advised reviewing agreements with vendors and customers for adaptability; checking customs bonds to prepare for possible clearance delays; analyzing import/export data using Automated Commercial Environment (ACE) tools; and revisiting customs classifications.
The event also outlined proactive steps companies can take: optimizing customs valuation processes; separating dutiable from non-dutiable products; or flagging related-party imports for reconciliation.
Data from the latest EY-Parthenon CEO Outlook Survey shows most chief executive officers plan to alter their supply chains within three to five years—71% in the US (up from 54% in 2024) and 77% in Europe (up from 61%). In addition, 69% of US manufacturers have already started reshoring operations while 93% intend to accelerate this process over the next two years.
“You can see some key trends already emerging in how companies are responding to tariffs, but there’s a chance these numbers will be very different next quarter,” said Heldebrand. “That’s why it’s important to take a proactive but flexible approach to your tax and trade policy — so you can adapt to what the future will bring.”
For more information on corporate tax developments or calculating tariff impacts on business operations visit https://taxnews.ey.com/register/.
The views reflected in this article are those of the author and do not necessarily reflect those of Ernst & Young LLP or other members of its global organization.
