Tariffs are the new normal, and executives know it.<\/p>\n
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A supermajority \u2014 86% \u2014 of US executives surveyed<\/a> by PwC last month said they expect tariffs to remain a “permanent planning assumption” for them. The Big Four firm published the survey results on Monday.<\/p>\n The results include the expectation that tariffs will last “beyond the current administration,” said Rohit Kumar, national tax office coleader at PwC.<\/p>\n The outlook marks a big shift from Trump’s first term<\/a>, when the president implemented his first round of tariffs.<\/p>\n Many businesses strongly opposed the strategy. Then-presidential candidate Joe Biden campaigned against the tariffs before winning the 2020 election, though his campaign sent mixed messages on whether he would actually roll back Trump’s duties.<\/p>\n By the time Biden left office in 2025, he had kept many of Trump’s tariffs<\/a> in place \u2014 and implemented some of his own, such as on Chinese electric vehicles<\/a>.<\/p>\n That continuity, plus a breakdown in support for free trade agreements compared to 20 years ago, makes many business leaders less optimistic about a tariff rollback anytime soon, Kumar said.<\/p>\n “Whatever we are left with at the end of the day is likely to stick around, even if there’s a change in political control of the White House,” he said.<\/p>\n In his second term, Trump has already amped up his use of tariffs. He implemented many that used presidential emergency powers and were ruled unconstitutional<\/a> by the US Supreme Court in February. After that ruling, Trump announced universal tariffs of 10% to 15%. While those duties are temporary, Trump has other legal means to implement more tariffs.<\/p>\n Tariffs that Trump has implemented during his second term have hit a range of goods and services, from cookware at Costco<\/a> to small shipments sent through UPS.<\/p>\n PwC’s survey asked 633 executives, from those in C-suites to board members, across industries about their outlook on policies, risks, and growth opportunities relevant to their businesses.<\/p>\n Despite having to deal with the tariffs<\/a>, nine out of 10 executives PwC surveyed said that their company “is in a better position now than it was two years ago.” And 64% said they are ahead of the curve in responding to policy and geopolitical changes.<\/p>\n “US executives have shifted from reacting to disruption to operating with greater confidence and steadier footing,” a summary of the survey’s findings reads.<\/p>\n Do you have a story to share about tariffs? Contact this reporter at abitter@businessinsider.com<\/a> or via encrypted messaging app Signal at 808-854-4501. Use a personal email address, a nonwork WiFi network, and a nonwork device; here’s our guide to sharing information securely<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"Tariffs are the new normal, and executives know it. Loading audio narration… A supermajority \u2014 86% \u2014 of…\n","protected":false},"author":2,"featured_media":390445,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[114,18514,185947,184,8647,85,46,185946,185944,10140,4555,185945,185949,133027,185948,6306,627,7421,1661],"class_list":{"0":"post-390444","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"tag-business","9":"tag-change","10":"tag-duty","11":"tag-economy","12":"tag-executive","13":"tag-il","14":"tag-israel","15":"tag-many-business","16":"tag-new-survey","17":"tag-outlook","18":"tag-policy","19":"tag-pwc-survey","20":"tag-rohit-kumar","21":"tag-second-term","22":"tag-survey-result","23":"tag-tariff","24":"tag-trump","25":"tag-white-house","26":"tag-year"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/390444","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/comments?post=390444"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/390444\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media\/390445"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media?parent=390444"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/categories?post=390444"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/tags?post=390444"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}