Trump’s tariff threats are hurting your job prospects
CNN
One in four US businesses has scaled back their hiring plans because of the turmoil unleashed by President Donald Trump’s trade war, according to a survey of chief financial officers released Wednesday.
One in four US businesses has scaled back their hiring plans because of the turmoil unleashed by President Donald Trump’s trade war, according to a survey of chief financial officers released Wednesday. The quarterly survey, conducted by Duke University and the Federal Reserve Banks of Richmond and Atlanta, found a significant drop in CFO economic optimism as they grapple with the fog of the trade war. Almost all of their post-election increase in optimism faded. The tariff chaos has caused a deer-in-headlights moment for many firms. Executives don’t know how high tariffs will go, what products will be affected, or how long they’ll stay in place. Faced with deep uncertainty, some businesses are pulling back. About 25% of CFOs say they have cut their 2025 hiring plans due to tariffs, according to the survey, which was conducted Feb. 18 to March 7. About 70% said trade policy will have no change to their hiring plans, while only 6% reported an increase. Likewise, 25% of CFOs say they have cut their capital spending plans this year because of trade policy. “Tariffs are first-order concern. At least in the short run, they are a great risk,” John Graham, professor of finance at Duke’s Fuqua School of Business, told CNN in a phone interview.
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