Recent U.S. tariffs under President Trump have caused major concern among top CEOs with many warning of an impending recession.
A CNBC flash survey showed that 69% of CEOs expect a downturn with over half predicting it will begin this year.
These fears stem from surprise over the tariffs' size and a strong Chinese response leading to a 10% drop in the S&P 500 and global market anxiety.
Leaders like JPMorgan’s Jamie Dimon and BlackRock’s Larry Fink voiced alarm, with some calling it the “Trump recession.”
CEOs cited risks of inflation, job cuts, and rising prices. Many companies are preparing for cost increases between 5% and 20% and are bracing for reduced consumer spending and potential boycotts abroad.
Despite administration claims that tariffs will boost domestic manufacturing, most CEOs believe this reshoring will take years and won’t offset short-term economic pain. Only 27% think the tariffs might be good long-term policy, while 59% disagree.
The mix of rising costs, business delays, and investor uncertainty is already slowing growth, with fears that continued confusion will deepen economic harm.
As one CEO put it, “Without faith that our government knows what it is doing, it is impossible for businesses to thrive.”
Trump’s decisions are highly volatile, and they are affecting not just the U.S., but the entire world negatively.
Yet, Trump is not backing down — he continues to repeat the same line that America will clear all its debts and end up with a surplus, unsure of how to even spend that extra money.
By painting a utopian picture in words, he is putting the entire nation at risk. Investment bankers are shocked by Trump’s decisions, saying this is certainly not how a president should handle matters.
Contrary to what Trump envisions, they warn that the country is headed for even more difficult times.
