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Tariff Wars and Transfer Pricing: A Perfect Storm for Multinationals?

09 September 2025 by Garrigues - Brazil

The global business environment faces a new stress test in the form of tariffs, the magnitude of which is unheard of since the Smoot-Hawley Tariff Act of 1930, in the aftermath of the US election. The unpredictability and changing nature of tariffs require multinational enterprises (MNEs) to reassess the terms and conditions of their controlled transactions and transfer pricing policies.