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Flexport CEO Ryan Petersen’s high-stakes test amid tariff turmoil: ‘You can’t be freaking out’
- Flexport CEO Ryan Petersen faced a high-stakes test amid tariff turmoil after President Trump announced new tariffs.
- Global trade dynamics changed drastically with tariffs as high as 79% to be applied on Chinese products like sofas.
- Flexport's customers are struggling to navigate the new customs obligations and challenges in the shipping industry.
- The U.S. decision to end the de minimis program for imports globally impacts e-commerce models and fulfillment processes.
- Petersen expressed concern for the existential decisions companies are facing due to the tariff changes.
- Flexport is providing not just logistics guidance but also stability during the turbulent period.
- Incoming U.S. trade proposals may result in significant port fees on Chinese-built ships, affecting importers and maritime workers.
- Petersen remains optimistic that the disruptions in free trade are not permanent and highlights negotiations with countries like Vietnam and Israel.
- He emphasizes the need for calmness in a crisis and being the anchor for his team and clients amidst the chaos.
- Flexport's focus is on adapting to the evolving trade landscape, embracing founder mode, and navigating the challenges with resilience.
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