Issue link: https://iconnect007.uberflip.com/i/1535954
32 SMT007 MAGAZINE I JUNE 2025 Johnson: Do you think these tariff policy fluc- tuations might be holding up the investment that all this action is intended to create? There's one thing I know: Businesses like certainty. Given the level of uncertainty with tariffs and the trade landscape right now, it's causing companies to hold back on making some of those investment decisions. A lot of this trade action is to incentivize produc- tion in the U.S., and that may happen, but it's hard to know whether that will be a prof- itable endeavor unless you have a concrete understanding of the impact of the tariffs. Sometimes it still makes sense to have a por- tion of your supply chain overseas. You can't really make those decisions unless you know what the tariffs are going to be and how they affect you. I think companies are waiting to see if things will settle down, if there will be a new status quo before making any of those decisions. Johnson: Thank you, James. This has been helpful information. ank you. SMT007 References 1. "At P&G and PepsiCo, tariff fallout is adding to heightened consumer anxiety," by Phil Wahba, For- tune.com, April 24, 2025. 2. Subsequent to the interview, beginning May 14, 2025 the U.S. lowered the 125% reciprocal tar- iff it has been imposing on imports from China from 125% to 10%. This 10% tariff rate will remain in effect for 90 days. Tariffs and Supply Chains in U.S. Electronics Manufacturing Chris Mitchell discusses IPC's concerns about tariffs on copper and their impact on U.S. electronics manufacturing. He emphasizes the complexity of supply chains and the need for policymakers to understand their effects. Access to criti- cal components is vital for revitalizing manufacturing, while trade relationships with Canada and Mexico are crucial for a strong North American base. Future relations with China highlight the importance of trust in supply chains.