Good morning. As earnings season continues, new data from S&P Global Market Intelligence takes a look at the dialogue around tariffs and their impact on forecasts.
Tariffs have dominated investor discourse since April 2 when President Trump announced sweeping tariff reform. Trump announced on April 9 a 90-day pause on certain tariffs. Meanwhile, a 10% tariff on nearly all global imports, a 25% levy on imported cars and certain auto parts, and a 145% tariff on goods imported from China are still in effect.
S&P Global Market Intelligence finds that, out of 423 earnings calls, 42% have included a discussion of tariffs, with 22% citing material risks. The analysis from April 1-16 is based on the S&P Total Market Index for U.S. companies. And data from the S&P Global Broad Market Indexes for the U.K., Canada, Europe, Australia, China, India, Japan, Mexico, and emerging countries.
