# Book-to-Bills, Tariffs, Economic Uncertainty, and the Reshaping of US-Europe Relations: All on EMS & The Economist with Shawn DuBravac

- Show: [EMS@C-LEVEL](https://hardwarepodcasts.com/podcast/ems-c-level)
- Published: 2025-03-16
- Length: 19m
- Page: https://hardwarepodcasts.com/podcast/ems-c-level/2025-03-16-book-to-bills-tariffs-economic-uncertainty-and-the-reshaping-of-us-europe-relati

## Summary

Shawn DuBravac, Chief Economist at the Electronics Industries Alliance (IPC), discusses the current state of the EMS and PCB industries, noting strong book-to-bill ratios driven partly by tariff-driven order pulling. He highlights how White House policy shifts and tariff uncertainties regarding Mexico, Canada, and Europe are creating planning nightmares for manufacturers, particularly regarding USMCA exemptions. DuBravac also explains the structural shift in European defense spending, which is creating tailwinds for European EMS companies, while AI's energy demands drive new hardware opportunities.

## Chapters

- [0:07](https://hardwarepodcasts.com/podcast/ems-c-level/2025-03-16-book-to-bills-tariffs-economic-uncertainty-and-the-reshaping-of-us-europe-relati#t=7) Introduction: Shawn DuBravac and IPC Book-to-Bill Trends
- [3:10](https://hardwarepodcasts.com/podcast/ems-c-level/2025-03-16-book-to-bills-tariffs-economic-uncertainty-and-the-reshaping-of-us-europe-relati#t=190) Regional Sentiment: US Optimism vs. European Recovery
- [6:37](https://hardwarepodcasts.com/podcast/ems-c-level/2025-03-16-book-to-bills-tariffs-economic-uncertainty-and-the-reshaping-of-us-europe-relati#t=397) Economic Uncertainty and Recession Risks
- [8:52](https://hardwarepodcasts.com/podcast/ems-c-level/2025-03-16-book-to-bills-tariffs-economic-uncertainty-and-the-reshaping-of-us-europe-relati#t=532) Tariff Chaos: Mexico, Canada, and USMCA Exemptions
- [11:20](https://hardwarepodcasts.com/podcast/ems-c-level/2025-03-16-book-to-bills-tariffs-economic-uncertainty-and-the-reshaping-of-us-europe-relati#t=680) US-Europe Relations and Defense Spending Shifts
- [15:09](https://hardwarepodcasts.com/podcast/ems-c-level/2025-03-16-book-to-bills-tariffs-economic-uncertainty-and-the-reshaping-of-us-europe-relati#t=909) European Defense Structural Change and AI Hardware Growth

## Topics

- [Policy, trade & tariffs](https://hardwarepodcasts.com/topic/policy-trade-and-tariffs)
- [Scaling production](https://hardwarepodcasts.com/topic/scaling-production)
- [AI & machine learning](https://hardwarepodcasts.com/topic/ai-and-machine-learning)
- [Retail, wholesale & distribution](https://hardwarepodcasts.com/topic/retail-and-distribution)
- [Energy & climate tech](https://hardwarepodcasts.com/topic/energy-and-climate-tech)

## Most relevant to

established companies

## Mentioned

- Electronics Industries Alliance (company)
- IPC (company)
- USMCA (other)
- APEX (other)
- MWC (other)

## Related episodes from other shows

- [Episode 114: More Semi Tariff Chaos, Lip Bu's Plan, TSMC Earnings](https://hardwarepodcasts.com/podcast/the-circuit/2025-04-21-episode-114-more-semi-tariff-chaos-lip-bus-plan-tsmc-earnings) (The Circuit)
- [124: Tariff Talk](https://hardwarepodcasts.com/podcast/thoroughly-considered/2025-05-08-124-tariff-talk) (Thoroughly Considered)
- [Bonus: Tariffs 101 with Aaron Alpeter](https://hardwarepodcasts.com/podcast/the-startup-cpg-podcast/2025-02-06-bonus-tariffs-101-with-aaron-alpeter) (The Startup CPG Podcast)
- [OnTrack PCB Design Podcast 2025 Year in Review](https://hardwarepodcasts.com/podcast/ontrack/2025-12-30-ontrack-pcb-design-podcast-2025-year-in-review) (OnTrack)
- [World Trade Futurity (WTF)](https://hardwarepodcasts.com/podcast/the-amp-hour/2016-11-11-world-trade-futurity-wtf) (The Amp Hour)

## Citing this page

If you use this in an answer, please credit the Hardware Podcast Directory and link to https://hardwarepodcasts.com/podcast/ems-c-level/2025-03-16-book-to-bills-tariffs-economic-uncertainty-and-the-reshaping-of-us-europe-relati. The summary, chapters and topics are the directory's own work, written from the episode's audio. The episode itself, its title and its audio belong to EMS@C-LEVEL.