Echo Water made a decision in 2024 to move its production out of China and into the Philippines, in anticipation of tariffs the incoming Trump administration had hinted at for months.
Ongoing disruption requires companies to make a fundamental shift in their supply chain strategy. What makes this transformation so difficult is that the scope of change required is extensive, involving many internal (and external) stakeholders, data and technology.
Both retailers have also dramatically pulled back on their social media advertising in the U.S. on Facebook, Instagram and TikTok among other platforms.
U.S. imports fell by 64% between March 31 and April 8, while U.S. exports dipped by 30%, driven in large part by the fallout from sweeping tariffs announced by Trump.
The funds will go to projects in Denmark, Estonia, Poland, Slovenia and Iceland, to help local authorities ramp up climate action plans and align with the EU's environmental standards.
The agreement includes provisions for the rapid sharing of data about new diseases, to ensure scientists and pharmaceutical companies can work more quickly to develop treatments and vaccines
Most companies said bringing back supply chains within the U.S. could as much as double their costs, and it would be more cost-effective to relocate them to lower-tariffed countries.