On September 9, EY, the largest professional services firm in Austin, organized an event focused on global trade, tax policy, and planning. The gathering brought together C-suite leaders, local executives, and strategists to discuss the current business landscape in 2025.
The event addressed key issues such as the impact of recent geopolitical events on businesses, methods for calculating tariff effects, and the importance of integrating tax and global trade planning. With tariff rates reaching levels not seen in nearly a century—some as high as 50% on metals and 25% on cars and parts—attendees received a detailed presentation outlining these changes.
Taylor Sisson, EY Austin Office Managing Partner, and Michael Heldebrand, Tax Partner in EY’s Global Trade practice, led discussions with participants about challenges facing businesses today. They explored how shifts in tax and trade are affecting supply chains and pricing strategies.
Attendees were presented with several possible future scenarios for tariffs. One scenario involved continued tariffs between the US and China while the US collaborates with allies like the EU to restrict sensitive exports to China. Another scenario envisioned the US imposing additional tariffs while negotiations with partners such as Japan, India, and Australia become strained. These discussions highlighted the importance of agility in responding to changing trade environments.
EY leaders advised companies to review their agreements with vendors and customers to ensure adaptability. They also recommended verifying customs bonds to manage potential clearance delays. Attendees were encouraged to analyze import/export data using Automated Commercial Environment (ACE) data and reassess customs classifications.
Proactive steps discussed included optimizing customs valuation processes and separating dutiable from non-dutiable products. These measures aim to help businesses respond effectively regardless of future developments.
The event also referenced findings from the latest EY-Parthenon CEO Outlook Survey. According to this survey, most CEOs plan to change their supply chains within three to five years: 71% in the US (up from 54% in 2024) and 77% in Europe (up from 61%). Additionally, 69% of US manufacturers have started reshoring operations, with 93% intending to increase that pace 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 about navigating corporate tax issues or calculating tariff impacts for your business, visit https://taxnews.ey.com/register/.
The views reflected in this article are those of the author and do not necessarily represent Ernst & Young LLP or other members of the global EY organization.
