US Business Put Spending Plans on Ice With Tariffs, Tax-Cut Wait
Tariffs and uncertainty have come up more than 600 times during quarterly earnings calls for S&P 500 companies since Trump took office.
Photographer: Alex Welsh /BloombergThis article is for subscribers only.
President Donald Trump’s November election win drove a surge in business optimism and expectations for capital spending. Four months later, executives have shifted to wait-and-see mode.
Uncertainty around how and when Congress will enact tax legislation, on top of Trump’s ever-changing tariff announcements, is dragging down expectations for investment, surveys from across the country show. Many firms are putting their investment plans, a key driver of economic growth, on hold. That’s one reason why economists are dialing back growth forecasts for this year.