Shaky markets. Panicky clients. Accountants, it’s your time to shine.
Accounting ARC
With Liz Mason
Center for Accounting Transformation
President Donald Trump’s tariff announcement has sent shockwaves through the business community—and accountants are on the frontlines of the fallout.
In the latest Accounting ARC podcast, Liz Mason, CPA, and Ron Baker, CPA (inactive), analyze the implications of Trump’s decision to impose a 10% blanket tariff on all imports, alongside a dramatic 54% tariff on goods from China.
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"Tariffs are taxes—plain and simple," says Mason, CEO of High Rock Accounting. "And businesses need to prepare for those costs to flow straight to consumers."
The decision, justified under the International Emergency Economic Powers Act, aims to curb the U.S. trade deficit. Yet Baker, founder of the VeraSage Institute and radio co-host of the www.VoiceAmerica.com show: The Soul of Enterprise: Business in the Knowledge Economy, warns of potential unintended consequences. “Protectionism historically leads to retaliation, and that’s bad news for everyone,” he notes.
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