It’s been four months since the Trump administration announced its “Liberation Day” tariffs, and companies are still scrambling to make sense of what it means for their operations and tax planning.

Rates keep changing, sometimes day to day, as countries struggle to make lasting trade deals with the US, while corporate tax and customs departments put their heads together to minimize the costs to their companies—without attracting a big audit.

In this special Talking Tax podcast—the first of four on transfer pricing and tariffs—PwC principal Chris Desmond talks with Bloomberg Tax reporter Caleb Harshberger about the ways companies have been trying to adjust to the new reality.

These include emergency meetings with top executives and heads of tax, trade, and other functions across the company, and deep dives into customs rules that many company executives hadn't felt the need to know well—until now.

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