By all means, consider embracing technology to supercharge all aspects of your supply chain. But never underestimate the power of human-driven partnerships to yield the best and most valuable results.

So far, the global economy has held up better than many economists expected after Trump’s initial tariff blitz. That could all be about to change.

The forecasts come even after the EU agreed to a trade deal with the United States that would reduce tariffs on imported cars to 15%.

Even Ford, which manufactures the most cars in the U.S. of any automaker, is being squeezed by new trade barriers imposed by the White House.

The deal announced on July 22 sets tariffs on Japanese cars at 15%, down from the 25% rate President Trump had previously threatened to impose.

The pact comes after three years of intense negotiations touching on thorny topics such as visas, tariff reductions and tax breaks.

With global trade frictions and rapid policy shifts set to continue, companies can no longer afford to treat tariffs as a short-term challenge

In June, GM announced plans to invest $4 billion over the next two years into three U.S. auto plants in Michigan, Kansas, and Tennessee.

Although Stellantis has manufacturing plants in the U.S., it also manufactures vehicles in the U.K., Europe, Canada, Mexico and South America.