Tariffs and global trade

Explore the evolving dynamics of global trade and what they mean for your business.

Tariffs and global trade: The economic impact on business

The recent wave of tariffs and other trade controls has created radical uncertainty for businesses. Here’s how decision-makers can best position their companies to thrive in the evolving landscape.
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Tariffs

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Podcast - The McKinsey Podcast
Tariffs and trade: Preparing for the unpredictable
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The global trade system is rife with uncertainty—but businesses can’t afford to remain frozen. Here’s how leaders can take action with tariff and trade policies in flux.
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Podcast
The new tariff reality: From risk to resilience
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Shifting tariffs and trade policies are pushing companies to rethink their supply chain strategies to protect growth and stay competitive.
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Article
In a moment of tariffs, can the world find balance and trust to thrive?
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Amid tariff uncertainty and a possible recession, the world needs a new base of balance and trust to create a thriving economy. Business has a vital role to play.
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Article
Navigating tariffs with a geopolitical nerve center
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A nerve center can help companies chart a course through expanding tariffs and trade controls by orchestrating nine rapid actions, from tariff operations to supplier diversification.

Global trade

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Article - MGI Research
The great trade rearrangement
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A newly defined “rearrangement ratio” gauges the potential to rearrange US imports from China and how this could...
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Article
Restricted: How export controls are reshaping markets
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The growing number of export restrictions is disrupting companies’ market strategies and tangling their supply chains....
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Article - MGI Research
Geopolitics and the geometry of global trade: 2025 update
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Trade reconfiguration continues along geopolitical lines, this update with 2024 data shows.

Global Trade Explorer

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Visualize flows of trade around the world

To navigate a more complex and challenging era requires deeper understanding of the full picture of the evolution of global trade flows and the interdependencies and networks created by them. Examining the diverse spectrum of global trade flows from various perspectives, it is clear that global connections are constantly evolving and reconfiguring. Enter our digital experience to explore how these relationships are changing in detail.
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Geopolitics

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Article

Multinationals at a crossroads: Adapting to a new geopolitical era

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Leaders of multinational companies are struggling to understand how to operate globally in a fragmenting world. We look at some possible solutions.
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Article
How American business can prosper in the new geopolitical era
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In a shifting world order, US companies’ continued success will hinge on an understanding of policymakers’ intentions.
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Article
Operating in a world of growing investment controls
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New global investment laws and controls are growing in scope and complexity. We look at how business leaders can plan for unpleasant legal surprises.
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Article
From protection to promotion: The new age of industrial policy
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Government subsidies, investment incentives, and other industrial-policy actions have almost quadrupled since 2017. Here’s how business leaders can navigate the impact of industrial policy on their markets.
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Article
Risk rebalancing: Five important geopolitical-risk questions for CIOs
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CIOs need to apply a much broader view of possible failure modes, where their assets are, and where the people who manage the assets are working.
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Podcast - The McKinsey Podcast
Navigating the new geopolitical uncertainty
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Yes, the changing geopolitical reality presents new risks—but like all disruptions, it may also create new opportunities. Here’s how.
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Article
Building geopolitical resilience: The people agenda
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Instituting a geopolitics strategy around people can strengthen the cohesion of the organization while protecting it from risks.
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Article
A proactive approach to navigating geopolitics is essential to thrive
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Business leaders must go beyond mitigating geopolitical risks to seizing the opportunities presented by the new world order. Here’s how.
How global companies can manage geopolitical risk
Article
How global companies can manage geopolitical risk
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Global enterprises can proactively manage the threats that escalating international and internal political tensions pose to their operations, performance, and culture.

The ten geopolitical factors affecting global business

Geopolitics

Proactively navigating the implications of geopolitical uncertainty
Learn more

Economic impact on industries and regions

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Article
The effects of tariffs on the semiconductor industry
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Given the shifting landscape, semiconductor executives could prepare their companies by determining the potential impacts of tariffs and exploring different scenarios to mitigate them.
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Blog Post
Navigating the tariff challenge
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Tariff disruptions are making waves. How ready is your organization to navigate any resulting storms?
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Blog Post
Navigating an ever-evolving trade environment
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Tariffs could hit the distribution sector hard. Here’s how to mitigate the risks.
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Blog Post
Navigating a connected yet contested world in Southeast Asia
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By identifying watch points and adopting specific strategies, the region could stay resilient and even see opportunities going forward.

Expert perspectives

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Podcast
Building geopolitical resilience: A conversation with Michèle Flournoy
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Times of intense uncertainty and change can be overwhelming—or they can be an opportunity to strengthen and refocus on what really matters.
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Interview
Robert Hormats on how today’s geopolitics affects companies
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The former Under Secretary of State discusses the risk of a trade war, the rise of China, and the importance of geopolitical context in corporate decision making.
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Interview
Daniel Yergin on energy and the new world order
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Daniel Yergin, a Pulitzer Prize–winning authority on energy, politics, and economics, discusses how rewriting the rules of globalization is making the world increasingly divided and perilous.
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Interview
Michael Froman on the business implications of geopolitics
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The president of the Council on Foreign Relations explains that companies today are facing the most complex international environment in 80 years.