Some stakeholders are optimistic the Trump administration's new tariffs will help drive investment in the US, but building new projects and reworking supply chains takes time. In the interim, there will likely be some shocks to the US economy and this infographic helps explain why. Mexico, Canada and China are the main trade partners for 42 states, with Canada leading the pack as the top partner for 23 of them. States rely on these nations for billions of dollars worth of produce, livestock, machinery, vehicles, oil, petroleum products and other goods essential for US industry.
While the Trump administration has paused tariffs imposed on Mexico and Canada, the 10% tariff on China is still in place, and Dan Harris, a partner at Harris Sliwoski, urges companies to negotiate costs with suppliers and ensure force majeure protections by reviewing contracts to see if tariffs qualify as unforeseen events that excuse performance. "Since force majeure laws vary significantly across countries, it is crucial to work with legal experts who understand the laws of all relevant jurisdictions to ensure proper contract protection," Harris writes.
Precision timing is crucial in automotive and aerospace applications as it ensures real-time data processing and reliable operations. As transportation technology evolves, the demand for precise synchronization across complex systems grows. MEMS technology offers the necessary accuracy to meet these stringent timing requirements.
The introduction of the LOK 16.150E electric railcar mover at the Port of Baltimore is set to significantly reduce emissions. This zero-emissions vehicle is expected to cut down on diesel consumption by 16,000 gallons annually -- eliminating 182 tons of carbon dioxide emissions and 13.87 tons of nitrous oxide.
B2B sales are undergoing rapid digital transformation as 71% of buyers are millennials or Gen Z, according to a Sana Commerce survey. The survey shows that 73% of buyers favor online purchasing, citing reliability, efficiency and speed. B2B sellers must adapt to meet these expectations or risk losing business.
Colleen Francis discusses the role of generative AI in sales, emphasizing its use as a starting point for tasks like creating scripts, researching companies and handling objections. While generative AI tools like ChatGPT can streamline these processes, Francis advises sales reps to refine AI-generated content to ensure it aligns with their personal style and message.
Leaders should practice staying calm by using tools such as mindfulness, refocusing attention and breathing exercises to keep their cool when uncertainty strikes, writes Dana Caspersen, a conflict engagement specialist. "By preparing yourself in the small moments throughout each day, you can increase your ability to respond with a steady mind, agile thought and the capacity to pivot in challenging times," Caspersen writes.
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Prioritize your organization's greatest asset — your people. NAW’s premier education programs, such as the online Management Academy and the in-depth Distribution Leadership Program at THE Ohio State University, are designed to equip your high-potential employees with the skills and insights they need to lead and succeed. Ensure your rising stars are prepared to drive your business forward by investing in their growth today. Learn more about how NAW can help you develop the leaders of tomorrow.
Gwendolyn Brooks, poet, writer, educator, first Black woman to win the Pulitzer Prize February is Black History Month
About NAW
The National Association of Wholesaler-Distributors (NAW) is one of America’s leading trade associations, representing the $8 trillion wholesale distribution industry. Our industry employs more than 6 million workers throughout the United States, accounting for approximately 1/3 of the U.S. GDP. 250,000 wholesale distribution companies operate across North America, including all 50 states. Learn more.
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