Photo: Shutterstock/Strikernia
Nearly half of supply chain leaders have identified rising tariffs and trade barriers as their primary concern heading into 2025.
The 2024 Supply Chain Intelligence Report, conducted by Descartes Systems Group (Nasdaq:DSGX) (TSX:DSG), gathered insights from more than 975 industry leaders across key trading regions including Europe, North and South America, and Asia-Pacific.
The findings paint a clear picture of the evolving challenges in global trade, with 48% of respondents citing tariffs and trade barriers as their top concern, followed closely by supply chain disruptions at 45% and geopolitical instability at 41%.
Perhaps most notably, 62% of survey participants anticipate an increase in large-scale supply chain disruptions, highlighting the urgent need for enhanced resilience and adaptability in global trade. The research also revealed emerging priorities, with 40% of respondents emphasizing ESG compliance as crucial for sustainable growth in global trade.
The survey results come as President-elect Donald Trump last week announced 25% tariffs on all U.S. imports from Canada and Mexico and an additional 10% tariff on imports from China. Over the weekend, Trump further threatened BRICS nations (Brazil, Russia, India, China and South Africa) with a 100% tariff if the geopolitical bloc undermines the U.S. dollar with a currency of their own. While on the campaign trail, Trump proposed a 10% tariff on all U.S. imports and a 60% levy on Chinese-made products.
“Evolving tariffs and trade policies are one of a number of complex issues requiring organizations to build more resilience into their supply chains through compliance, technology and strategic planning,” said Jackson Wood, Director, Industry Strategy at Descartes. “With the potential for the incoming U.S. administration to impose new and additional tariffs on a wide variety of goods and countries of origin, U.S. importers may need to significantly re-engineer their sourcing strategies to mitigate potentially higher costs.”
This comprehensive study, conducted in partnership with SAPIO Research, gathered responses from professionals ranging from management level to C-suite executives, providing a thorough perspective on the current state and future outlook of global supply chain management.
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