Dominic Barton, strategic counselor to Eurasia Group and chair of Rio Tinto, says companies must move geopolitical risk from an after-dinner speaker topic to a core part of business strategy. Barton, speaking with Fortune after U.S. President Donald Trump imposed 50% tariffs on some Canadian goods, argued that assumptions about international institutions, free trade, and a rules-based order are going away. He said CEOs will have to spend more time with governments than ever before, pointing to Temasek chief executive Dilhan Pillay Sandrasegara, former Apple CEO Tim Cook, and Tesla's Elon Musk as leaders who have built that muscle. Barton also noted Rio Tinto's purchasing from China has gone up significantly because Chinese suppliers offer better, longer-lasting equipment despite higher costs.
Apple Inc.
Applovin CorpRio Tinto PLCRio Tinto's purchasing from China has increased due to better and longer-lasting equipment, indicating supply chain benefits.
Tesla Inc