Charles Clevenger, principal with the national advisory and accounting firm UHY, brings us up to date on the raft of tariffs imposed by the Trump Administration. President Trump’s previous tariffs that were imposed under section 122 of the Trade Act of 1974 expired on July 24, having reached their statutory 150-day limit. But Trump quickly announced new tariffs to take their place. More than 60 countries are affected by the tariffs, Clevenger says. In light of the recent tariffs, Clevenger says, they would do well to reestablish domestic sourcing as a means of avoiding the taxes and creating more reliable supply chains.