Ordinarily, an author should hesitate in publicizing his article, but because (i) the question of "Tariffs" is convulsing the world, and (ii) there are no Business or International Management publications addressing this topic (although plenty in Economics), I am making an exception.
"Assessing the economic impact of tariffs: Adaptations by multinationals and traders to mitigate tariffs" can be accessed full-text at https://www.emerald.com/insight/content/doi/10.1108/ribs-01-2025-0013/full/html. If using Google Scholar make sure you put in the author's name, or search for "Tariffs" specifically with "Custom Range (2025) – (2025)".
The article is a scholarly review of all the arguments pro and con tariffs (however weak or specious some may be) and assesses their economic impact.
How multinationals might mitigate the impact of tariffs using adaptations, such as marginal increases in inventories, diversification of suppliers by number and geography, passing through price increases depending on price elasticity of demand, deepening relationships with suppliers, nonmarket strategies and lobbying, investing in more automation, product and process innovation and a reduction in service or product varieties, is treated next.
Finally, the underlying causes of globalization's discontents are treated with a novel approach in an Appendix. It also punctures the myth that the US has lost its manufacturing mojo.
Farok J. Contractor, Ph.D.
DISTINGUISHED PROFESSOR
Management & Global Business Dept., Rutgers Business School (New Brunswick & Newark)
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Farok Contractor
Distinguished Professor in Management and Global Business
Rutgers University
Flemington NJ
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