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SMT007-Jan2025

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32 SMT007 MAGAZINE I JANUARY 2025 Feature Interview by the I-Connect007 Editorial Team tariffs on Mexican products for the same rea- sons he's proposing them now. His aim is to clamp down on illegal immigration and drug smuggling. Ultimately, he backed off last time from his original proposal because he was satisfied with what Mexico said it would do to address those concerns. is time he says there are major problems with illegal immi- gration, and he wants to shut down the bor- der until Mexico does something about it. He's also suggesting a 25% tariff on imports from Mexico. He's now throwing a tariff proposal against Canada. So, we can predict something will happen. He's promised he will initiate the tar- iff process on Canada and Mexico as soon as he enters office. He's talked a lot about China so I would expect some action to be taken there. James Kim is an international trade lawyer at ArentFox Schiff who keeps his thumb on the pulse of customs enforcement and import compliance. With a new administration taking over just days from now, James weighs in on the potential risks of international tariffs, some possible workarounds, and why this topic should be No. 1 on your list of concerns. Marcy LaRont: James, with a new administra- tion, there has been a lot of talk about tariffs. What do you expect? James Kim: Speculation is rampant, something we saw with Donald Trump's first term. He would make off-the-cuff remarks or threaten some sort of tariff action. Sometimes, it played out that way, but a lot of times, it didn't. Last time, he talked about imposing high Tariffs and Trade Wars: What to Expect in 2025

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