National Retail Systems (NRS) Chairman and CEO Francis Walsh joined fellow business and logistics leaders at the New Jersey Performing Arts Center (NJPAC) in Newark on April 28, 2026, for a high-profile panel discussion hosted by NJBIZ: “The Cost of Doing Business: The Impact of Tariffs on the American Economy,” part of the Business Partners Roundtable series.
The event brought together top voices in transportation, logistics, manufacturing, and government to examine how shifting federal trade policy is reshaping commerce through the Port of New York and New Jersey and beyond. Walsh was joined by U.S. Rep. Rob Menendez (D-8th District); Jayne Millard, executive chairman and co-CEO of Turtle & Hughes; and Peter Jabbour, general counsel, Americas, A.P. Moller – Maersk. The discussion was moderated by Colleen Wilson, transportation reporter for The Bergen Record.
Experience That Speaks for Itself
Drawing on more than 30 years of experience in transportation and logistics, Walsh offered a grounded perspective on the tariff debate, comparing logistics operators to “doctors in the emergency room” — always responding to the next crisis. He distinguished tariffs from major structural shocks like the Suez Canal blockage or COVID-19, characterizing them as a manageable cost of doing business.
— Francis Walsh, Chairman & CEO, NRS
Beyond the Headlines
Walsh pushed back on the media narrative surrounding tariffs, noting that rising fuel and energy costs have been far more immediate for most workers. He also described how initial alarm in the business community gave way to collective adaptation.
“The press told us tariffs are going to impact us. I talked to all my employees. Tariffs basically didn’t impact them. Fuel impact, high energy costs — that impacts them quickly, fast.”
— Francis Walsh
The Bigger Picture
The panel took place amid a rapidly evolving legal and political landscape, with courts striking down tariff authorities and New Jersey joining multistate lawsuits challenging federal trade actions. The ongoing conflict in Iran, which has closed the Strait of Hormuz, added yet another variable to global trade. NJPAC President and CEO John Schreiber noted: “The Port of New York and New Jersey is the largest containerized cargo port on the East Coast. Anything that impacts this interesting industry will impact all of us here today.”
NRS at the Table
NRS’s presence at this event reflects our ongoing commitment to staying ahead of the trends, policies, and market forces shaping the supply chain. As one of the nation’s leading third-party logistics providers, NRS has helped businesses navigate volatility for decades — whether it’s shifting trade policies, port disruptions, or rising transportation costs.
Read the full NJBIZ article: njbiz.com/nj-business-leaders-tariffs-global-trade
National Retail Systems (NRS) is a leading nationwide 3PL offering drayage, distribution, transportation, and capacity solutions. Learn more at nrs3pl.com