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Tariffs have become a near-daily staple in the 2025 news cycle. But with frequent changes, the rhetoric around them can be confusing.  

“We’ve really been in an entirely different world with respect to trade” since Jan. 20, said James Mulvehill, Trading Customs Practice managing director with KPMG. “I really haven't seen anything like the environment that we're in today … historically from a U.S. perspective, we have had a fairly low tariff environment.”

In this podcast, Boston Business Journal Market President and Publisher Carolyn Jones sat down with Mulvehill and Noemi Santana, Trading Customs Practice senior manager at KPMG, to discuss how the new wave of tariffs is affecting U.S. industries — and what companies can do to prepare for changes.

The importance of analyzing your supply chain was a key area of focus in the discussion.

“ Up until the new administration, it might've been sufficient to know very broadly how many widgets you import from which countries. But now it's really much more important to know at a more granular detail all of the different pieces of what you're importing,” Santana said.

Tune in to this episode to learn more about:

What makes this round of tariffs unique (3:44)
How U.S. industries are being impacted by tariffs (4:55)
A few short-term mitigation strategies companies can implement to cut supply chain costs (10:43)
Mulvehill’s medium and long-term predictions for tariffs’ impact on trade (15:27)
The silver lining Santana has found throughout this turbulent period (19:42)

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