How can Insurance help in Trade War +25% Tariffs between the U.S. and Canada? Podcast 07

Mitigating Trade War Risks for Clients

New tariffs between the U.S. and Canada on various goods are impacting businesses. Insurance professionals are advising clients on mitigating these effects through strategies such as supply chain diversification, utilizing business interruption insurance, and incorporating tariff pass-through clauses in contracts. These actions aim to reduce reliance on affected imports, improve risk management, and maintain business continuity. Shorter and more diverse supply chains are highlighted as key to resilience, although challenges like increased transportation costs exist when shifting to alternative suppliers.