Navigating the new economic disorder: Decode, deepen, diversify

BUSINESSES are entering a period of extreme fear of the unknown. The on-again, off-again tariff and other trade controls by US President Donald Trump has generated radical uncertainty for businesses. Even though there is a 90-day pause, nobody (other than President Trump) knows whether reciprocal tariffs will eventually apply, and if so, at what rate for what countries, given that more than 70 countries are said to be in negotiations to cut bilateral deals.

What is the end game? Understanding the Trump administration’s priorities can provide some insight into what shifts may be lasting and which are transitory. There appear to be three.

One – raise revenue through tariffs with the proposed setting up of an External Revenue Service to replace the income tax with tariff revenue.