Major global companies have largely reported better-than-expected third-quarter earnings, despite widespread concerns over the impact of tariffs. These companies have managed to mitigate tariff impacts by cutting costs and passing expenses to customers. For example, Volvo Cars launched an aggressive cost-cutting program and plans to relocate production of some models to the US, boosting profit margins and share prices. These approaches -- along with passing higher costs to consumers -- have helped several firms weather tariff-related challenges.

MSC Industrial Supply President and COO Martina McIsaac has been appointed CEO, effective Jan. 1, as long-time leader Erik Gershwind is set to retire after 13 years leading the metalworking and MRO supplies distributor and more than three decades at the firm. McIsaac will also join the board of directors, while Gershwind will become a non-executive vice chairman.

Retailers are preparing for a cautious holiday shopping season, starting promotions and marketing earlier to capture consumer spending amid economic uncertainties. Industry leaders are observing a split in consumer spending behavior ahead of the holidays, with lower-income shoppers feeling budget pressures and all consumers becoming more strategic about purchases. Shoppers are making more frequent trips but spending less per visit, closely tracking discounts and aggregating purchases around key sales events.

President Donald Trump and Chinese President Xi Jinping will meet on Oct. 30 in South Korea amid escalating trade tensions, following a round of high-level talks between Treasury Secretary Scott Bessent, U.S. Trade Representative Jamieson Greer, and Chinese Vice Premier He Lifeng that will take place on Friday in Malaysia. The discussions come as Washington prepares to impose 100% tariffs on Chinese exports and press Beijing over export controls on rare earths, Russian oil purchases, and the war in Ukraine. It will be the first in-person meeting between the two leaders since 2019.

Volume aggregation models offer SMEs a way to overcome pricing disadvantages in logistics by pooling their shipping volumes to access enterprise-level rates and services. Vitalii Savryha, founder of Ardi Group of Companies, points to three main models: third-party logistics provider consolidation, freight forwarder cooperatives and regional industry consortiums.

Canada is expediting the Port of Montreal's expansion amid a trade war with the US to bolster overseas trade. The $1.15 billion new container terminal aims to increase the port's capacity by over 50%, and is part of a national strategy to diversify trade. However, trade growth is uncertain due to recent declines in container handling and challenges such as labor strikes and river limitations.

Bias in AI is inevitable but can be managed to create fairer marketing, writes Graham Wilkinson, Acxiom chief innovation officer. Wilkinson explains that bias is essential for pattern recognition in data-driven marketing, but it can lead to unfair treatment if not properly managed. To counter bias, Wilkinson suggests that brands implement rigorous bias testing, use AI tools that explain their reasoning, aka explainable AI, and maintain ethical data practices.

Make sure your body language agrees with your words, writes Andy Harrington, the founder of The Professional Speakers Academy, who offers examples of when your body language contradicts your message, such as crossing your arms when asking for feedback. "When your physical cues align with the values you espouse, belief takes root," Harrington writes.

Tariffs imposed in 2025 have led to an overall 4.9 percentage point increase in retail prices, according to a Tax Foundation report. Imported goods have seen prices climb by six percentage points, while domestic goods rose by 4.3 points, with both figures based on new Harvard research. The Tax Foundation explains that domestic producers often raise their prices in response to higher import costs, staying just below the latest import price to remain competitive and increase profits.

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.