Strong concern among bizs globally after US tariff announcements: ICC

02 May '25

2 min read

Strong concern among bizs globally after US tariff announcements: ICC

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Insights

Three-fifths of respondents in a pulse survey by the International Chamber of Commerce view the new US tariff measures negatively, with top concerns including increased costs, planning uncertainty and supply chain disruptions.
Large companies are twice as likely as SMEs to cite trade retaliation as a top concern.
Tariffs are also compounding broader planning challenges faced by businesses.

Sixty per cent of respondents in a recent pulse survey of the International Chamber of Commerce’s (ICC) global business network view the newly announced US tariff measures negatively, with top concerns including increased costs (64 per cent), planning uncertainty (47 per cent) and supply chain disruptions (45 per cent).

Large companies are twice as likely as small and medium enterprises (SMEs) to cite trade retaliation as a top concern (50 per cent versus 25-35 per cent).

Over 70 per cent of businesses reported either heightened caution or a more pessimistic outlook for the coming 6-12 months, signaling broader apprehension about economic stability, survey responses from 68 countries show.

While expected sectors like manufacturing and agriculture anticipate direct impacts, the findings also highlight unexpectedly high concern among service-oriented sectors like accommodation and food services—pointing to potential indirect or knock-on effects of the tariffs.

These findings suggest the tariffs are not only perceived as a threat to global trade flows, but are also compounding broader planning challenges faced by businesses, an ICC release noted.

The private sector is calling for predictability, coordination and mechanisms to de-escalate trade tensions before they ripple further through supply chains and markets.

Fibre2Fashion News Desk (DS)

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