Understanding the Global Macroeconomic Impacts of Tariffs

Writing in Harvard Business Review , BCG’s Philipp Carlsson-Szlezak , Paul Swartz , and Martin Reeves examine how to track the macroeconomic ripple effects of tariffs. They outline how both direct and indirect effects—from inflation and supply chain disruptions to policy missteps and competitiveness risks—could reshape global economic dynamics. “Executives should invest in building their understanding of tariff impacts so that developments can be continuously assessed,” the authors write, emphasizing that tariffs are likely to have long-term, structural impact.