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ARTICLE · 18 JUNE 2025

Tariff volatility: protecting your profits

Corrs Chambers Westgarth
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Tariff volatility in 2025 is reshaping global trade and presents a range of challenges to businesses who operate globally.

AustraliaInternational Law
Nastasja Suhadolnik
Nastasja Suhadolnik
Jo Feldman
Jo Feldman
Betty Choi
Betty Choi
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Tariff volatility in 2025 is reshaping global trade and presents a range of challenges to businesses who operate globally.

For businesses engaged in cross-border trade, unexpected costs like tariffs can destroy commercial relationships. Building resilient global trade strategies is essential, and contract drafting plays a key role. Clear drafting, commercial flexibility and early legal input can help mitigate financial and operational risk and preserve commercial relationships. Below are some practical considerations for businesses.

What is a tariff?

A tariff is a government-imposed tax on imported goods. It is intended to increase the cost of foreign products, making them less competitive against locally produced alternatives. Tariffs can be fixed (a set amount per unit) or ad valorem (a percentage of the import value) and are typically collected by customs authorities at the border.

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The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

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