Force majeure:
Ultimately, everyone impacted by the tariffs is looking at the various legal avenues to find relief from tariff-related price increases. That includes several legal options that probably won’t work, such as force majeure clauses, Aiello said.
Force majeure is a legal clause excusing a supplier of its obligation to deliver parts upon the occurrence of an “act of god,” or an event beyond the party’s control. Suppliers are traditionally charged hundreds of thousands of dollars for every minute an automaker plant is shut down due to lack of parts supply. A force majeure can prevent them from that contractual penalty.
From “Suppliers look for ways around tariffs,” Dustin Walsh, Crain’s.
