With over 100,000 cases now identified Worldwide and some 3,000 deaths, the Coronavirus is beginning to have a debilitating effect on the world’s population and its economy. In the last couple of weeks, we have witnessed billions of pounds wiped from those companies listed on the world’s stock markets, £200bn alone from the London Stock Exchange. To mitigate the spread of this virus, nations and corporations alike are now implementing containment measures which are having an adverse effect on their economy and operations; in some cases, these effects are felt beyond borders and are disrupting services for customers, both B2C and B2B.
While a ‘phase one’ deal may avoid further escalation, with the existing tariffs still in place and steel prices continuing to rise, along with the risk of recession and USMCA ratification on the congressional agenda, North American manufacturers find themselves at a pivotal moment.
