Business executives have been in a state of uncertainty due to US President Donald Trump’s fluctuating plans to impose major tariffs since taking office in January.
Trump’s announcement on Tuesday, imposing 25% tariffs on Canada and Mexico, has added to the uncertainty, with economists expecting increased costs for US companies.
The prospect of major levies on imports has dominated corporate America’s discussions this year, with over 750 US companies discussing the topic at investor events or earnings conference calls since the beginning of 2025.
Some companies have pre-ordered goods to get ahead of tariffs, but executives have taken a wait-and-see approach on investments and expenditures due to Trump’s frequent changes to his tariff plans.
The uncertainty is far from over, as Trump has promised additional tariffs on the European Union and investigations into copper and lumber imports.
David Young, an executive with the Conference Board, noted, “The uncertainty continues. There are decisions being postponed and delayed… there very much is a degree of paralysis”.
Hilton Schlosberg, co-CEO of Monster Beverage, echoed this sentiment, saying, “As regards tariffs, I think your guess is good as mine.
“Things keep on changing day by day”.