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3rd parties set to thrive in volatile, disruptive trading world 

Multiple events bring skills of trading groups to forefront

Mark Solomon
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This fireside chat recap is from Thursday, the third day of FreightWaves’ Global Supply Chain Week.

FIRESIDE CHAT TOPIC: The impact of tariffs on the supply chain.

DETAILS: John Harms, vice president of commodities and logistics at Brown Brothers Harriman, says the combined effect of the Trump tariffs, COVID lockdowns and the Russia-Ukraine war have put a premium on the services of savvy third parties that can source products and services from anywhere in the world.

KEY QUOTES FROM HARMS:


“Increased supply chain disruptions will be a boon to the global commodity trading sector. They are the ones best positioned to provide reliable, flexible service to the end customers, because they are not supplying from just one single supplier in one country.” 

“We are entering a new golden age for commodity traders.”

“I don’t think reshoring is the driving factor [for businesses]. It’s finding the new lowest cost of production.”

“It comes down to diversification. It gives you optionality. This is where the skills of logistics companies become increasingly important.”


Mark Solomon

Formerly the Executive Editor at DC Velocity, Mark Solomon joined FreightWaves as Managing Editor of Freight Markets. Solomon began his journalistic career in 1982 at Traffic World magazine, ran his own public relations firm (Media Based Solutions) from 1994 to 2008, and has been at DC Velocity since then. Over the course of his career, Solomon has covered nearly the whole gamut of the transportation and logistics industry, including trucking, railroads, maritime, 3PLs, and regulatory issues. Solomon witnessed and narrated the rise of Amazon and XPO Logistics and the shift of the U.S. Postal Service from a mail-focused service to parcel, as well as the exponential, e-commerce-driven growth of warehouse square footage and omnichannel fulfillment.