After a year marked by geopolitical uncertainties, the recent US presidential election poses significant trade challenges for European companies. To better understand the potential impact on international trade, we interviewed our Director of Customs & Trade Consulting at MyTower: Mr. Jean-Baptiste Coudray.
What impact could the first measures of a Trump presidency have on European companies?
Jean-Baptiste Coudray: We observed a high level of unpredictability during the previous Trump presidency, with decisions taken quickly and drastically. For example, tariff increases or the introduction of new regulations could be implemented in just a few days. Such changes can entail unforeseen costs for companies, making it essential for them to anticipate different scenarios now.
Which sectors would be most affected by these potential measures?
J-B. Coudray: Additional tariffs could affect a wide range of products, although some, such as medical or essential products, could be exempt. Luxury goods, automobiles, wines and spirits and aeronautics are particularly exposed. This means that all companies operating internationally, especially those with a presence in the United States, need to assess the possible consequences according to their volumes and trade flows.
How can companies prepare for these changes?
J-B. Coudray: To cope with these changes, it's essential to simulate different scenarios. This requires consolidated, reliable data. Companies need a solution that enables them to centralize their commercial information, such as tariff classifications, import-export volumes and applicable taxes. With this data, they can project potential impacts and adjust their strategies, whether by revisiting margins, diversifying markets or optimizing supply chains.
What solutions does MyTower offer to support companies?
J-B. Coudray: Our global trade management platform is built around two pillars: data and collaboration. It enables us to collect and analyze import-export flows in real time, anticipate the impact of new regulations and simulate different scenarios. Our solution also helps companies to comply with regulatory requirements, such as those linked to the border carbon adjustment mechanism or measures to combat deforestation.
Can you give us a concrete example of how MyTower helped a company overcome a customs challenge?
J-B. Coudray: Of course. We recently worked with a company affected by sudden customs duties on products imported from China. Thanks to our solution, it was able to quickly identify the items concerned and adjust its flows to minimize losses. This competitive advantage enabled them to react before their competitors, who took several months to adapt.
What advice would you give to companies faced with these uncertainties?
J-B. Coudray: Anticipation and agility are essential. In other words, companies need to have a clear understanding of their data - it's the only way to anticipate the unexpected - and use it to develop adaptation scenarios. MyTower provides this flexibility by consolidating their information and enabling rapid adjustments in the face of unpredictability.
Political and economic instability is forcing companies to prepare today for the upheavals of tomorrow. With its data management and simulation solutions, MyTower positions itself as a strategic ally, helping companies to anticipate and overcome these challenges with agility.
Jean-Baptiste Coudray, Customs & Trade Consulting Director at MyTower
