In today’s volatile global trade environment, understanding trade tariffs and navigating market shifts are important for global business success
On April 24, 2025, we had the privilege of hosting a timely conversation on how businesses can navigate the shifting international trade landscape.
The webinar opened with our expert speakers Bolaji Sofoluwe MBE and Fergus McReynolds exploring how digital innovations are transforming trade across Africa. Fergus pointed out the fascinating shift happening across the continent:
“We’re actually skipping a generation in terms of trade technology and moving towards paperless trade and digital-first trade corridors.” This according to him could define international trade over the next decade.
As the session unfolded, the conversation turned to the role of Free Trade Agreements (FTAs) amid global market volatility. Fergus emphasised:
“FTAs aren’t gone, but we will see more block-to-block agreements rather than bilateral deals.”
However, he also warned that with rapid geopolitical shifts, businesses can’t afford to forget the benefits that FTAs offer, even when immediate crises, like new U.S. tariffs, dominate the headlines.
When it came to practical advice for SMEs entering politically volatile regions, Bolaji Sofoluwe shared grounded strategies such as the need for businesses to:
- Regularly use frameworks like PESTLE analysis to assess export and markets risks.
- Revalidate contracts and incoterms to reflect current realities in their export markets.
- Keep communication lines open with buyers as this transparency is essential.
According to her businesses need to “Have an open conversation with their importers. Look again at your contract terms, and insurance costs. Many savvy buyers will expect renegotiation in times like these.”
As we neared the end, the spotlight shifted to how industry associations and support agencies can be a lifeline to businesses in the current market volatility.
Fergus explained how organisations like the Chartered Institute of Exports and International Trade offer real-time updates, training, and advisory services tailored to each business’s unique trade journey.
“Managing volatility now means accepting it as the new normal, and staying informed, nimble, and prepared.”
Finally, Bolaji left us with a reminder full of wisdom and realism:
“If you find yourself overwhelmed by volatility, remember, 80% of the world still trades under WTO rules. Find your pockets of stability.”
If you missed our webinar on “Decoding International Trade Tariffs” you can now catch up on key insights from our expert speakers, including strategies for SMEs, the future of trade agreements, and how to stay competitive amidst rising geopolitical risks here: