CFOs Increasingly Alarmed Over Tariffs As Business Confidence Wavers: 15% Say They Are 'Concerned' About Duties In Q1

The first quarter of 2025 saw a notable decrease in economic optimism among chief financial officers, with the latest CFO Survey pointing to tariffs and market uncertainty as primary drivers.

What Happened: The quarterly survey conducted by Duke University and the Federal Reserve Banks of Richmond and Atlanta highlights insights from financial decision makers.

Economic optimism among CFOs dropped to 62.1 in the first quarter of 2025, down from 66.0 in the previous quarter, nearly reversing the post-election surge. While optimism regarding individual firm finances also decreased, the decline was less pronounced.

Trade policy and tariff concerns surged in the first quarter, affecting nearly a third of surveyed firms, a significant jump from the previous quarter. Additionally, ‘uncertainty’ emerged as a top-five concern for ...