Survey: More Than Two-Thirds of Leaders Aim to Pass On Tariff Impacts
The targets, scope and duration of President-Elect Donald Trump’s tariff regime remain largely in flux as he prepares for his second inauguration Jan. 20. A new study by Endeavor Business Intelligence, the research arm of IndustryWeek parent company Endeavor Business Media, shows that nearly half of business leaders have drawn up at least partial plans for dealing with tariff hikes—but also reveals that nearly one in four have yet to take any concrete action.
EBI’s report, “Business Implications of Tariff Changes,” surveyed business-to-business executives in the second half of December about their strategic response to higher tariffs and the potential cost implications they could bring. A notable takeaway: 71% said their most likely reaction to higher prices from tariffs will be to pass along increases to customers. On the flip side, 19% said they are most likely to absorb the new costs.
When it comes to overall preparedness, about two-thirds of leaders think their teams can make strategic adjustments in three months or less. One in six executives said they have in place comprehensive contingency plans while another 28% say they are partially prepared. But 23%, perhaps leaning toward the Trump-is-bluffing line of thinking, said they have made no specific preparations. Or they are, like a number of large automotive executives, prepared to be “a little bit patient.”
You can access the full EBI Pulse Survey here. And if you’d like to browse coverage of the potential tariff changes from 10 Endeavor Business Media brands, click here.
