Story perspectives

69% of CEOs Expect Recession Amid Rising Tariff Concerns

4/7/2025

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Summary

CEOs Fear Recession

A CNBC survey shows 69% of CEOs anticipate a recession linked to Trump's tariffs, with 37% considering job cuts.
Rising inflation and consumer prices raise concerns, with expected increases ranging from 5% to 20%.
Business leaders, including JPMorgan's Jamie Dimon, have shifted away from supporting tariffs due to economic risks.
CEOs reliant on international sales fear growing anti-American sentiment and potential boycotts of U.S. brands.
Experts caution that ongoing trade tensions may weaken U.S. economic alliances and impede long-term growth.

Summary

Businesses Seek Exemptions

Nearly 4,000 American firms sought individual tariff exemptions during Trump's 2018 trade war, highlighting disunity.
The trade representative's office struggled to manage the influx, resulting in high tariffs for most businesses.
Historical trends indicate a weak corporate response to Republican policies, with no major shifts anticipated.
Trump's tariffs raised the average US tariff to 29%, threatening jobs and increasing costs for consumers.
Business groups, including the Chamber of Commerce, have criticized Trump but lack cohesive action.

History

Historical Context

The current concerns over recession and job cuts echo the economic turmoil during the 1930s Great Depression. Then, protectionist tariffs exacerbated economic decline. Today, rising tariffs under Trump's administration threaten similar repercussions, revealing how historical trade policies can cyclically impact economic stability and corporate confidence.

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CEOs Fear Recession

A CNBC survey shows 69% of CEOs anticipate a recession linked to Trump's tariffs, with 37% considering job cuts.
Rising inflation and consumer prices raise concerns, with expected increases ranging from 5% to 20%.
Business leaders, including JPMorgan's Jamie Dimon, have shifted away from supporting tariffs due to economic risks.
CEOs reliant on international sales fear growing anti-American sentiment and potential boycotts of U.S. brands.
Experts caution that ongoing trade tensions may weaken U.S. economic alliances and impede long-term growth.

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