The Trump administration is weighing various tariff strategies before Wednesday's announcement, including whether to impose country-specific rates or a universal tariff of up to 20% on all trading partners. Officials are also exploring industry-specific tariffs, particularly on critical minerals, according to sources.

Consumer sentiment fell in March, with the University of Michigan's Survey of Consumers showing a 57.0 reading, down 11.9% from February. Inflation fears are a major concern, with respondents expecting a 5% inflation rate in a year. The March decline marked the third straight monthly drop amid widespread economic policy worries. 

The inaugural episode of the MDM Amplify Podcast focuses on the impact of tariffs in 2025. Grant Thornton specialists Russell Norris, Jonathan Eaton and Colin Wilhelm discuss the complexities of tariffs, including risk mitigation, supply chain resilience and the role of transfer pricing. The discussion highlights the need for proactive measures and scenario analysis amid uncertainties.

Blockchain technology offers significant benefits beyond cryptocurrencies, including supply chain improvements, financial transaction efficiency, enhanced data security, asset tokenization and decentralization. Companies are using blockchain to verify product origins, streamline cross-border payments and secure sensitive information, writes Alvin Kan, operating chief of crypto wallet Bitget.

The food and beverage industry is increasingly adopting cobots and robots, driven by the need for higher throughput, safety, and workforce retention, according to this analysis. The Association for Advancing Automation reports 65% growth in robot orders in the food sector in 2024. Technology advancements such as no-code programming and remote monitoring are making these technologies more accessible, while companies like Tyson Foods are investing in smart manufacturing to future-proof operations.

Brands need to rely on data-driven marketing to navigate economic uncertainty, prioritizing personalized, value-centric messaging, writes Nicole Penn, EGC Group president. Agile strategies, including rapid testing and real-time feedback, are essential for adjusting to market conditions and maintaining customer trust, Penn writes.

The U.S. economy is showing signs of stagflation, with stagnant growth and rising inflation, as consumer spending has declined and inflation has increased. A real-time estimate from the Federal Reserve Bank of Atlanta indicates economic contraction at a 0.5% rate in the first quarter, and the University of Michigan consumer sentiment survey shows increased pessimism about job prospects and inflation.

Companies are reevaluating and rebranding diversity, equity and inclusion initiatives in response to President Donald Trump's executive order ending government DEI programs and targeting private sector efforts. Many high-profile firms have changed the title of diversity officers positions and scrapped DEI hiring targets, with some shifting to terms like "belonging" and "opportunity" that continue the efforts under a different name.

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.

Interested in membership with NAW? Reach out and let us know how we can help you.