Marsh warns businesses to prepare for higher trade friction as USMCA review enters formal phase

Christopher Coppock, head of geopolitical and economic risk analysis at Marsh, said: “Business leaders should assume greater policy friction is the new baseline as the trade agreement review unfolds, here in North America and around the world, and build resilience now. That means stress-testing supply chains against tariff and non-tariff shocks, clarifying contractual risk allocation with suppliers and customers, understanding ownership structures, and ensuring trade compliance teams are equipped to respond quickly to shifting rules. The earlier organizations act, the more optionality they will preserve.”