Two-thirds of business leaders say tariffs will negatively impact operations, according to research conducted by Endeavor Business Intelligence, the research arm of Construction Equipment parent company Endeavor Business Media. One in four (25%) respondents, however, said they will benefit from tariffs imposed by President Trump.
More than 400 business leaders from manufacturing and other key sectors responded to the poll launched after Trump’s April 2 announcement of a series of tariffs against most of the United States’ trading partners.
Tariffs will result in operating costs increasing by up to 15%, nearly half of respondents said, and more than half (51%) said they plan to pass those increases along to customers.
The article referenced in this story originally ran as “Survey: More Than 60% of Firms Expect Double-Digit Cost Increases From Tariffs” on IndustryWeek.com, an Endeavor Business Media sibling site.
