Expect Q1 earnings calls to shift from the 'net negativity of tariffs' to price hikes and cost negotiations

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Good morning. As tariffs are set to put pressure on supply chains, pricing remains top of mind for corporate leaders.

"Tariff trouble: Consumer goods most affected by reciprocal rates," is a new analysis by S&P Global Market Intelligence. The Trump administration’s new tariffs will add 10 percentage points to import duties from many countries. And this will exclude sectors such as metals, chemicals, and autos, which will have their own tariffs. That means the supply chains most affected will be finished consumer goods, including clothing, toys, and smartphones, according to Chris Rogers, head of supply chain research at S&P Global Market Intelligence. These sectors face additional duties in the order of 27 to 30 percentage points on a weighted average basis, he noted.