Some of the changes have been temporarily reduced or suspended pending further review. As at the date of this article, the US government is in negotiations with some trade partners on tariff and trade matters. The conclusion of these talks may alter the details of the tariff actions.
This article identifies key financial reporting areas that entities need to consider when determining the impact on their business, and on the results, financial position and disclosures in their financial statements under IFRS Accounting Standards.
How we can help
We hope you find the information in this article helpful in giving you some insight into changing economic environments. If you would like to discuss any of the points raised, please speak to your usual Grant Thornton contact or visit www.grantthornton.global/locations to find your local member firm.