KPMG trade specialists James Mulvehill and Noemi Santana on how tariffs are impacting U.S. industries (podcast)
Tariffs have become a near-daily staple in the 2025 news cycle. But with frequent changes, the rhetoric around them can be confusing.
'We've really been in an entirely different world with respect to trade' since Jan. 20, said James Mulvehill, Trade and Customs managing director with KPMG. 'I really haven't seen anything like the environment that we're in today … historically from a U.S. perspective, we have had a fairly low tariff environment.'
In this podcast, Boston Business Journal Market President and Publisher Carolyn Jones sat down with Mulvehill and Noemi Santana, Trade and Customs senior manager at KPMG, to discuss how the new wave of tariffs is affecting U.S. industries — and what companies can do to prepare for changes.
The importance of analyzing your supply chain was a key area of focus in the discussion.
' Up until the new administration, it might've been sufficient to know very broadly how many widgets you import from which countries. But now it's really much more important to know at a more granular detail all of the different pieces of what you're importing,' Santana said.
Tune in to this episode to learn more about:
What makes this round of tariffs unique (3:44)
How U.S. industries are being impacted by tariffs (4:55)
A few short-term mitigation strategies companies can implement to cut supply chain costs (10:43)
Mulvehill's medium and long-term predictions for tariffs' impact on trade (15:27)
The silver lining Santana has found throughout this turbulent period (19:42)
Learn more about trade and customs from KPMG here. Connect with Noemi Santana and James Mulvehill on LinkedIn, or email them at noemisantana@kpmg.com and jmulvehill@kpmg.com.
Some or all of the services described herein may not be permissible for KPMG audit clients and their affiliates or related entities.
© 2025 KPMG LLP, a Delaware limited liability partnership and a member firm of the KPMG global organization of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee. All rights reserved. The KPMG name and logo are trademarks used under license by the independent member firms of the KPMG global organization. The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act upon such information without appropriate professional advice after a thorough examination of the particular situation.
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