According to EY's report “Polish Companies Facing Tariffs: Strategic Changes in Response to Trade Uncertainty,” 29% of companies are responding to tariff-related problems by shifting production abroad. They are also considering changing suppliers (28%) and redirecting exports to other markets (26%).
According to the report, just over half (51%) of businesses in Poland believe that the impact of tariffs on their industries will be negative, and the majority (52%) fear that they will result in increased production costs.
“Although 75% confirm that tariffs are forcing them to change their business strategy, 51% say these will be minor adjustments. Companies indicate, among other things, relocating production to another country (29%), changing suppliers (28%), and redirecting exports to other markets (26%) as a response to the problems caused by tariffs. However, in the case of relocation, 50% of companies that made such a declaration indicate that this option had already been considered in their company strategy,” the report reads.
Advertisement See also: Take part in our stock market multi-thlon! Disciplines: sprint for stocks, dive into ETFs, and push your wallet for the prize.
As Maciej Stefański, senior economist at EY's Economic Analysis Team, points out, the relatively high percentage of companies considering moving production abroad is largely the result of the structure of respondents.
“In Poland, micro-enterprises constitute as much as 97% of all enterprises, and their share in exports is marginal. Our study is dominated by medium-sized and large companies, which have a greater impact on the economy and are simultaneously more export-oriented. Their involvement in international trade and the need to adapt to global trends force management boards to analyze scenarios encompassing a wide range of solutions, including relocating at least part of production to another country,” the economist added.
According to the report, companies are also divided on their investment plans. In response to the announced tariffs, half (50%) announced a significant or slight increase in planned investments, while 36% declared a decrease in this area. Only 9% reported that this had not affected their plans.
“Polish businesses cannot afford to remain passive. The new US tariffs particularly affect the automotive, machinery, chemical, and electrical engineering sectors. In response, companies are increasingly considering relocating production outside the EU, diversifying their sales markets – for example, towards Asia or South America – and reorganizing supply chains to increase their transparency and flexibility. This is not only a response to the current crisis, but also a step towards building resilience to future geopolitical turbulence,” said Sławomir Czajka, EY Partner and Global Trade Team Leader, quoted in the report.
Polish companies also indicated what actions the European Union should take to best protect the interests of its members.
“The majority (35%) of companies pointed to the need for trade negotiations with the US, 29% were in favour of introducing their own retaliatory tariffs, and 27% called for the need for financial support for sectors affected by the tariffs,” the report reads.
“The business plans and analyses of most businesses do not take into account changes in customs duties, which means companies must now adapt their strategies. The medium-term impact on cash flow has a significant impact on profitability and working capital, which ultimately translates into financing options. Therefore, it is crucial to conduct thorough cash flow analyses and be prepared to present the results to a range of stakeholders, such as owners, banks, and supervisory boards,” said Grzegorz Cywiński, EY-Parthenon partner and leader of the Valuation, Modeling, and Economic Analysis Team, as quoted in the report.
According to Magdalena Kasiarz, partner at EY Law, it is worth analyzing contracts in terms of possible renegotiations with the bank or supplier of the contract terms or – for example – suspension or modification of covenants.
“I believe that both contractors and financial institutions will be open to such discussions, taking into account the benefits of long-term cooperation,” she added.
The report also shows that potential changes in customs duties have a significant impact on companies' financial reporting, and the current situation requires great caution when reporting financial data.
“We are currently in a very dynamic phase of global trade tensions. Since the beginning of April, the United States has introduced broad tariffs on goods from the European Union – 20% on most products, 25% on passenger cars, and as much as 50% on steel and aluminum. Although some of these tariffs have been temporarily reduced, many sectors remain under pressure,” said Sławomir Czajka, EY partner and leader of the Global Trade team, quoted in the report.
He added that for Polish companies, this means the need to urgently review commercial and financial contracts – in terms of legal risks and the impact on liquidity, while cost increases, contractual uncertainty and possible breaches of loan agreements are real threats that require an immediate response.
The study, “Polish Companies Facing Tariffs: Strategic Changes in Response to Trade Uncertainty,” was conducted in May 2025 on behalf of EY by CubeResearch using a combined CATI (telephone interviews) and CAWI (online interviews) method among CEOs, management board members, CFOs, and owners of 297 Polish small, medium, and large enterprises from the trade, services, and industry sectors. (PAP Biznes)
mbi/ osh/
