Guest: Elizabeth Lomax, Trade Compliance Consultant (Pharma Specialist)
Published: October 23
Length: ~25 minutes
Presented by: Global Training Center
In this Simply Trade News Roundup, host Annik sits down with leading trade compliance consultant Elizabeth Lomax to tackle the timely and turbulent world of the pharmaceutical supply chain. With shifting trade rules, tariff threats, and regulatory uncertainty dominating industry headlines, Elizabeth shares real-world insight into how manufacturers—especially smaller innovators—are navigating anxiety, adapting compliance processes, and preparing for possible disruption. The conversation breaks down executive orders, HTS code strategy, the impact of de minimis changes, and the crucial role of documentation.
Together, they address how ongoing tariff debates, differential exemption policies, and rapid-fire policy shifts are shaping both immediate risk and long-term strategy for pharmaceutical companies of all sizes.
What You’ll Learn in This Episode
The state of pharma tariffs, exemptions, and compliance in 2025“Big Pharma” vs. smaller innovators—who the rules favor, and whyHow executive orders and truth social posts differ from enforceable policyHTS code strategies, annex exemptions, and documentation best practicesHow tariffs and cash flow risks hit small businesses hardestWhat de minimis no longer means for the industry in practiceThe impact (and irony) of U.S. policy on drug pricing, shortages, and innovationWhy ACE reports and robust recordkeeping are make-or-break for complianceHow to model tariff scenarios and strengthen your playbook—no matter what comes nextKey Takeaways
“Tariff anxiety” is real—prepare processes, but don’t panic over shifting headlinesAccurate classification, valuation, and country of origin are your best defenseSmall pharma faces unique hurdles when policy focuses on negotiation and volumeStay plugged in to new developments and keep your compliance documentation airtightTrade teams may need added resources or automation to keep pace with a volatile landscapeACE reporting, scenario modeling, and strategic partnerships can help mitigate future shocksResources
FDA Policy UpdatesACE Reporting GuidesGlobal Training Center’s Three Pillars CourseCredits
Guest: Elizabeth Lomax
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Presented by: Global Training Center — providing education, consulting, workshops, and compliance resources for trade professionals.
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