Track how companies discuss tariffs and trade policies in their earnings calls, and understand their impact across different industries and regions.
We believe tariff effects are likely to drive up construction costs and further reduce new supply.
volatility resulting from tariffs and the potential for reciprocal tariffs could cause clients to pause or reevaluate projects over the coming months and quarters.
We have not seen any clients decay out of the pipeline as a byproduct of this. It's more about pausing in certain areas, particularly in the ABL sector, than it is absolutely shutting down from the transaction.
We are fortunate that the simplicity of our supply chain, where our customers are the importers of our product, means that we should not directly incur any material tariff costs.
We are analyzing the impact of tariffs on new originations through relationship management discussions and quarterly portfolio reviews.
While tariff uncertainty remains a concern for automotive, we are closely aligned with our customers providing guidance and solutions every step of the way.
the changes to the de minimis exemption will obviously cause slight headwind to our ads business in 2025, primarily from APAC-based retailers.
we do not anticipate tariffs to have a meaningful impact on our financial results.
Overall, we expect the impact of tariffs in 2025 to be a limited headwind to the business.
the idea that tariffs are causing an increase in inventory costs probably has a lesser impact.