Trump orders US out of global tax deal; Trump order shifts AI policy away from Biden-era risk focus; Trump crypto executive order bars agencies from establishing CBDCs; 5 CFO tips for tariff scenario planning
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NOTE FROM THE EDITOR
Dear reader,
We will not publish a CFO Dive newsletter on Monday, Feb. 17, in honor of Presidents Day. In keeping with the holiday, we are taking stock of the early days of President Donald Trump’s administration.
From regulatory enforcement to tax and tech, the changes are coming at a dizzying pace that’s left finance leaders scrambling to adjust their footing. On the tariff front alone, Trump ordered the U.S. out of the global tax deal that had targeted tax havens, imposed tariffs on China which quickly drew retaliatory measures, and threatened and paused tariffs on Mexico and Canada. This week, the White House widened the trade war by announcing 25% tariffs on all imported aluminum and steel.
Some businesses stand to benefit from the changes. Ford Motor CEO Jim Farley said Tuesday it would be a “signature accomplishment” if Trump was able to make the U.S. auto industry stronger by bringing more production and innovation to the U.S., as the president has proposed. Still, so far Farley said “what we're seeing is a lot of cost and a lot of chaos,” adding that “a 25% tariff across the Mexico and Canadian border would blow a hole in the U.S. industry.”
Below are six stories that examine some of the top federal policy changes impacting businesses that we will continue to follow. We will be back in your inbox on Tuesday. Thank you for reading!
Former Treasury Secretary Janet Yellen was a driving force behind talks led by the OECD that resulted in more than 130 countries agreeing to implement global tax rules in 2021.
Pulling forward purchases from Mexico and Canada is one of the ways that finance leaders can mitigate the impact of tariffs that are expected to be imposed next month, KPMG’s Andrew Siciliano said.
We’ve compiled a selection of pieces from CFO Dive that explore the top tactics and strategies you can use to ensure your company thrives in today’s uncertain market. Explore more in this Trendline.
Change in “corporate citizenship” initiatives coincide with a federal backlash against efforts to promote sustainability in the private and public sectors.
Poor business travel management can quickly lead to skyrocketing costs from employee overspend, manual expense reports, and more. Discover new ways CFOs can reduce business travel expenses in this report.
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