Surviving Tariff Turbulence | ARC

Shaky markets. Panicky clients. Accountants, it’s your time to shine.  Accounting ARCWith Liz MasonCenter for Accounting TransformationPresident Donald Trump’s tariff announcement has sent shockwaves through the business community—and accountants are on the frontlines of the fallout. In the latest Accounting ARC podcast, Liz Mason, CPA, and Ron Baker, CPA (inactive), analyze the implications of Trump’s decision to impose a 10% blanket tariff on all imports, alongside a dramatic 54% tariff on goods from China.  MORE Accounting ARC: Crypto, Cash, or Chaos? The Fallout of an IRS-Free America | Is Agentic AI a Game Changer or Game Ender? | Kelly Mann: Thriving Against All Odds | Are We Ready for the Hidden Risks of AI in Accounting? | The Research Imperative: Why Data Drives Accounting Success | How Coaching Can Unlock Professional Success | Demystifying Accounting Governance |  Top 10 Red Flags to Watch for in Accounting Offices | Jeremy Dubow: Private Equity as a Catalyst for Growth | Break the Burnout Cycle in Accounting | Accounting in Transition: 2024 Reflections & the Road Ahead "Tariffs are taxes—plain and simple," says Mason, CEO of  High Rock Accounting. "And businesses need to prepare for those costs to flow straight to consumers." The decision, justified under the International Emergency Economic Powers Act, aims to curb the U.S. trade deficit. Yet Baker, founder of the VeraSage Institute and radio co-host of the www.VoiceAmerica.com show: The Soul of Enterprise: Business in the Knowledge Economy, warns of potential unintended consequences. “Protectionism historically leads to retaliation, and that’s bad news for everyone,” he notes.