The “Tariffs & Export Controls: The New World Order in Trade and Supply Chains” panel saw the participation of Tracy Wong, partner at Christopher & Lee Ong, Malaysia as the moderator, with panellists Corey Norton, a Porter Wright partner from Washington, Sanjay Notani, an Economic Laws Practice partner from Mumbai, Andrey Zharskiy an Alrud Law Firm partner from Moscow and Byron Maniatis, a Hogan Lovells partner from Brussels.
During the panel session, many questions centred on the effects of US President Donald Trump’s tariffs. Norton said trade was responding to international concerns.
In a discussion over whether policy was influencing trade or trade practices were influencing policies, and which was the best practice, the panellists agreed. that more stringent policies ultimately led to newer trade agreements and routes with countries choosing to be trade friendly with others.
Maniatis added that current conflicts in various regions were significantly influencing the trade practices of clients across borders.
Zharisky shared Russia’s perspective on how tariffs on cars were based on the recycle fee as 20% or 30% of the value of the vehicle.
Notani said that although India was the third-largest economy in the world, the per capita values did not match this, but the Indian government was working on changing this situation and progress had yet to be seen.
