Businesses around the world are likely to put off critical decisions, such as placing orders and hiring employees, until the second half of the year to have more clarity on U.S. tariffs according to the International Chamber of Commerce.
The uncertainty around final tariffs is causing more challenges for businesses compared to the 10% baseline tariff already in place.
Many businesses will delay important investment decisions until the second half, when they expect more certainty.
The implementation of tariffs is leading to various challenges for businesses, including price increases, missed opportunities, product delivery delays, and client turnover.