A wake-up call for supply chains: Tariffs are reshaping global strategy

A recalibration is underway, driven in large part by changing US policy, including supplemental tariffs and a reshoring-friendly stance that is already reshaping supply chain strategies. And while the policy changes are taking place in the US, the ripple effects are global. For Nordic manufacturers, particularly those exporting to or sourcing from North America or Asia, this new landscape demands attention.

As outlined in the recent Deloitte Insights report“Enhancing supply chain resilience in a new era of policy”, this shift is not just hypothetical. It’s happening now, and it has significant implications for how businesses structure their global supply chains.

From cost optimisation to resilience-driven strategy

The traditional focus on minimising cost is giving way to a more balanced approach — one that weighs price against agility, proximity and policy risk.

Deloitte’s analysis highlights three practical levers supply chain leaders and COOs can use to strengthen resilience:

• Assess risk exposure: Map critical dependencies, tier by tier. Understand where you’re exposed to tariffs, supplier concentration, or geopolitical friction.
• Mitigate near-term tariff impacts: Strategies such as forward-buying, reworking supplier contracts, or leveraging bonded warehouses can help soften immediate shocks.
• Reimagine your supply chain footprint: For high-value, complex goods, reshoring or nearshoring may become financially viable — even competitive. M&A, vertical integration and supplier partnerships can shift the cost-benefit balance.

When does reshoring make sense?

A 25% tariff can quickly cancel out the traditional cost advantage of offshore manufacturing — especially in sectors where labour costs are a smaller share of the total.

Take a simplified example: if it costs $15,000 to build a product in the US, and labour makes up 15% of that cost, the savings from offshoring might initially seem attractive. But once tariffs are applied, that margin can disappear — and the case for reshoring becomes compelling.

This tipping point is particularly relevant for manufacturers of capital-intensive, high-tech goods with strict quality standards.

And when you add in other rising challenges like shipping costs, sustainability targets, and global uncertainty, it’s clear that the economics of supply chain design are changing fast.

Many may not be directly impacted by US tariffs today, but many will feel the knock-on effects through customers, partners or competitors.

People power the difference

While technology will help enable more efficient and flexible operations, the real difference will come from people.

In the US alone, nearly 2 million manufacturing jobs are expected to go unfilled by 2033. The same trend is mirrored in the Nordics, where skilled labour shortages — particularly in advanced manufacturing and digital supply chain roles — are already limiting growth.

For companies looking to restructure or grow their footprint, the talent challenge must be central. Investing in workforce development, digital upskilling and a culture built on purpose will be key to long-term resilience. This isn’t just about capacity — it’s about building capability.

Final thoughts

Resilience has moved from being a differentiator to a baseline. For operations leaders, the time to act is now.

Whether it's responding to external shocks, restructuring the footprint for long-term agility, or future-proofing the workforce, one thing is clear: the global supply chain model is being rewritten and those who adapt early will shape what comes next.

Start small. Start smart. But most importantly, start now.