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02 April 2025 / Essay
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Copy LinkOf the administration’s executive actions to date, tariffs are having the biggest impact on businesses, according senior executive members of The Conference Board (see figure below; for details on the most recent tariff updates, check out the Tariff Tracker from The Conference Board). Meanwhile, 59% of US consumers expect tariffs to increase prices. Consistent with this, the March 2025 Consumer Confidence Survey from The Conference Board shows that US consumers remain highly concerned about inflation.
Companies are expected to increase prices due to new tariffs, which retailers like Target, Best Buy, and Walmart have already suggested. Some firms are negotiating with suppliers to reduce input costs and minimize customer price hikes. However, despite these efforts, the new tariffs may result in higher prices for consumers.
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