8 T is for the much-talked about tariffs – what would you say right now? Adir Waldman, Freshfields: “Across industries, clients are seeking clarity on the implications of the evolving US tariff regime. Our team includes leading US trade and export control lawyers—among them, former officials from all recent administrations—who provide practical, forward-looking guidance to help clients navigate both compliance and commercial impact.” Jeremy Lustman, DLA: With respect to US tariffs specifically, that topic is not coming up too frequently, as it applies to companies selling actual products and shipping to the US, and less so to pure technology companies, which make up the majority of our clients. With that said, tariffs are just one component of broader US regulations that are affecting Israeli companies, whether it be executive orders, CFIUS, and increased scrutiny of national intelligence and trade; these are definitely areas that are impacting many more of our clients in significant ways.” Lee Noyek, A&O Shearman: “Interest rates (though still relatively high) came down meaningfully in North America and Europe last year, and seemed to be stabilizing, resulting in an improved financing climate. But, again, there is now a risk that increased tariffs may cause inflation to rise, leading to increased borrowing costs, which makes M&A less attractive to those taking on debt finance.” Michael Kaplan, Davis Polk: “Israel is very tech-heavy, and those companies are not very impacted by tariffs. Tech continues to be the most significant field of opportunity, including Cyber, AI and Crypto-related sectors. My sense is there aren’t Israeli AI entrants attracting international attention yet.” Jonathan Morris, BCLP: “Almost everyone is talking about US tariffs but very few have developed yet a clear strategy as to how to respond as there continues to be a significant degree of uncertainty surrounding them. For example, will the existing tariff levels be maintained or reduced following trade negotiations? Will they be extended to include services as well?”
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