Global Supply Chains Adapt Six Months After “Liberation Day”

Six months after “Liberation Day,” new U.S. trade deals and tariffs are still unsettling global supply chains. While Washington’s policies have dominated headlines, alliances forming between other major economies may prove more consequential for long-term trade stability, according to QIMA’s Q4 Barometer.

Key takeaways:

·        QIMA data shows a clear slowdown in U.S. overseas procurement from August onward. After peaking in July (+22% YoY), inspection and audit activity fell sharply in August and September, signaling that “friend-shoring” is proving tougher in practice than in theory. 

·        Much of the pullback reflects a pivot away from China (-24% YoY), offset by growth in Southeast Asia (+39%) and South Asia (+26%). Yet these regions now face fresh headwinds: transshipment tariffs and India trade tensions threaten to disrupt diversification plans. 

·        Closer to home, U.S. nearshoring remains modest, with domestic and regional sourcing supplementing—not replacing—overseas production. Limited local capacity leaves brands with few scalable alternatives heading into peak season. 

• U.S. slowdown: Activity cooled after July’s +22% YoY peak amid tariff uncertainty.
• China exits, others rise: Inspections in China -24%, SEA +39%, South Asia +26%.
• New tariffs and India tensions weigh on diversification.
• Brazil inspections for Chinese suppliers +54%, reflecting deepening South-South trade.
• EU buyers hold sourcing in SEA (+8%) and expand nearshoring in Egypt (+24%).