More Tariffs, More Problems: GCs Seek Answers in the Fray
Trade lawyers say companies are coming to them for answers about how to cope with escalating U.S.-China trade tariffs. But a former automaker GC said at least one proposed solution—looking for sourcing from other countries—isn't easily done.
September 18, 2018 at 05:07 PM
4 minute read
The original version of this story was published on Corporate Counsel
As the U.S.-China trade war escalates, corporate legal departments are growing increasingly interested in finding ways to avoid getting dinged.
“The number of clients we have is going to multiply tenfold. There are going to be a lot of people looking to deal with this,” Ronald Oleynik, head of the international trade practice at Holland & Knight in Washington, D.C., predicted. He spoke with a reporter shortly after China clapped back Tuesday at President Donald Trump's proposal to impose a third round of tariffs on $200 billion in Chinese imports. If that happens, the U.S. will have imposed tariffs on about half of all imports from China.
China vowed that it would slap tariffs on another $60 billion in American products if Trump's proposal takes effect as planned on Sept. 24.
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