Are Accountants Turning Tariffs into Treasure

Spring 2025, and America’s business world is running on caffeine and chaos. President Trump just cranked up another round of tariffs, hammering not just rivals like China but longtime trade partners like Canada, Mexico, and the EU. While CEOs are sweating bullets and Wall Street is walking on eggshells, there’s one corner of the market that's poppin’ bottles: consulting and accounting professionals. If you're an accountant, tax advisor, or strategy consultant, buckle up.  This is your golden hour—a true blessing in disguise.

Why the Big Four Are Raking It In

Forget Wall Street traders—it's the Big Four who are stepping up their game in this new tariff-fueled economy. KPMG, PwC, Deloitte, and EY are watching the client calls roll in faster than a Tesla off the line.

• KPMG reported double-digit growth in revenue and bookings across multiple sectors since the April tariff hikes.
• PwC’s customs and international trade unit is seeing a “tripling down” in client interest across logistics, tax, and tech.
• McKinsey launched a whole new Geopolitics practice to help clients navigate global uncertainty.
• Deloitte introduced “Tariff Impact Labs,” offering real-time modeling for companies scrambling to adapt.

As SIB Consulting’s CEO, Shannon Copeland put it, “This latest wave of interest is tied to tariff-related cost concerns… pricing volatility, supply chain pain, and vendor contract chaos.

Industries Feeling the Heat

Here’s who’s caught in the crosshairs, and driving the consulting boom:

• Semiconductors: The chip game is getting spicy. With 90 %+ of advanced chips imported and tariffs up to 32%, chipmakers need help figuring out cost allocation, compliance, and cross-border tax traps.
• Automotive: A 25% levy on cars from Mexico and Canada is flipping the industry on its head. Accountants are guiding OEMs on restructured sourcing, customs, and tax incentives.
• Tech & Electronics: Phones, servers, smart gadgets, if it’s got a chip, it’s got a problem. Consultants are helping companies rethink everything from supply chains to product pricing.
• Retail & Consumer Goods: Inventory stockpiling is back. Retailers are leaning on financial advisors to navigate shifting sourcing, cost pass-throughs, and tax strategy.

Why Services Are the Secret Weapon

Here’s the plot twist: services aren’t subject to tariffs. Goods are getting whacked left and right, but accounting, tax advice, and strategy modeling? Zero import duties. That’s a monster advantage, and a wide-open lane for professionals to pivot.

• Outsourcing? Game on. U.S. firms can send work to India, the Philippines, or Poland without getting hit with extra costs.
• Solo consultants and boutique firms can go global, pitching clients in tariffed-up industries without crossing any fee barriers.
• Remote advisory services just became one of the most valuable exports in the U.S.

As Business Insider reported, “The services sector has been largely untouched by tariffs, putting consultancies in a unique position to help companies trying to navigate shifting trade dynamics and rising costs.”

Opportunities for Accounting and Consulting Professionals

You don’t need a seat at PwC or Deloitte to ride this wave. Whether you're a solo CPA or running a five-person firm, here’s how to pivot like a pro:

• Tariff Mapping & Scenario Planning: Every new tariff triggers a ripple effect. Create tools and models that help clients visualize how rate hikes impact profits, costs, and operations.
• Transfer Pricing & Tax Optimization: When a company moves manufacturing from China to Vietnam or Texas, it’s not just logistics—it’s a tax minefield. This is where your cross-border skills shine.
• Customs Classification Hacks: Did you know a wording change in a product description can cut duties in half? Consultants are reclassifying goods to shave off costs—legally and smartly.
• Education & Leadership: Run webinars, post LinkedIn guides, and host virtual roundtables. As you educate, you become the go-to expert, which leads to leads, referrals, and retainer clients.
• Supply Chain Restructuring: “Friend-shoring” is the new offshoring. You can guide companies through the maze of tax, compliance, and operational implications.

Time to Ride the Revenue Rocket

Sure, the trade war has rocked global commerce. But for accounting and tax professionals, it’s a once-in-a-decade opening, a silver lining hiding in plain sight. The Big Four are riding high, but there’s still room on this rocket. With services still tariff-free, the barriers to global advisory work are practically zero. If you’ve ever wanted to scale your consulting work, now’s the time. Build niche expertise. Form global alliances. Teach, train, model, advise, and grow. While manufacturers and importers brace for impact, professionals like you can turn trade trauma into a thriving business. The next chapter of the tariff saga isn’t just playing out in Beijing or D.C., it’s unfolding in your Excel sheets, client Zoom calls, and strategic tax playbooks. So, the only question is: Are you ready to be calm in your clients' storm? Subscribe to MYCPE ONE Insights to get more takes like this—real talk, real trends, and ready-to-use strategies for financial and accounting professionals.