Tariffs Elevate Trade Costs: Industry Insights from ING
According to Uday Sareen, CEO of ING and Head of Wholesale Banking in Asia Pacific, the rise in tariffs is compelling businesses to seek increased working capital. These higher trade costs impact supply chains and overall market dynamics. Companies are adjusting their strategies to manage financial pressures resulting from tariffs. Understanding these trends is crucial for stakeholders to navigate the evolving trade landscape effectively. As tariffs continue to affect global trade, staying ahead of the curve is essential for maintaining a competitive edge.