The powers may call it Liberation Day, but for many, especially in the health ingredients and health products marketplace, I am sure there are other terms that better apply.

Moreso than most, our industry is a global marketplace, with up to 85% if not more of our raw materials coming from outside of the United States, mostly from China, India, and the rest of Asia. And like many industries, companies have invested heavily, over decades, in developing global sourcing and distribution networks. In addition, like most business environments, stability and predictability leads to a more certain business outlook, especially where new long-term and strategic investment is concerned.

As of this week, and in fact, some might argue a couple months ago, all these bets are off. Whether or not the U.S. is heading into a recession is one question along with implications for consumer spending and confidence. Another series of questions surround tariffs, trade, timing, and scope. Will the cost of key goods (or parts) go up 25% or more? What amount will brands actually pass along to their consumers?

On the supply side, there are more fundamental questions. Who has supply and where is it? Who is primary and actually has reasonable control over their supply chain? Who sources from where? Who has redundancy? Who can repatriate? All of these are important aspects of the new reality and supplier relationship equation.

I know from my own experience that many companies, acknowledging the above realities, took steps last November to regain what control they could. In fact, some of the same phenomena were experienced right after Brexit.

This has been and mostly will continue to be more an industry of relationships than many others. Despite mergers, acquisitions, exits, and retirements, trust and long-term commitment are broadly inherent. This is perhaps one of the biggest silver linings as we prepare for the next tumultuous few months. Whatever "Liberation Day" or the days after that do bring, we continue to work in an industry filled with great people, who mostly truly like each other, and who do good work.

If that sounds like a toast—it is.

Related: 2025 Challenges & Opportunities