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Offsetting Tariffs: Mitigating Costs with Operational Efficiency Gains

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Manufacturing companies are crucial to the U.S. economy. These organizations impact a variety of industries – food and beverage, machinery and equipment, chemical and plastics, pharmaceutical, etc. – by creating jobs and producing goods used globally by both organizations and consumers. In early 2018, the Trump administration imposed tariffs which target specific goods used in manufacturing processes, including steel, aluminum, coal, plastic products and more. These taxes significantly impacted international trade, as has been demonstrated by Canada, the European Union, Mexico and China all imposing retaliatory taxes to strike back against what was enacted by the U.S. 1 These taxes significantly impacted international trade, as has been demonstrated by Canada, the European Union, Mexico and China. INTRODUCTION

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