Track how companies discuss tariffs and trade policies in their earnings calls, and understand their impact across different industries and regions.
Importantly, our construction remains on schedule for our first building and we expect it to be ready for service and ready to begin generating revenue in the calendar fourth quarter of 2025. Nearly all the equipment for this building is landed, giving us not only confidence in the schedule, but it also means tariffs will not materially impact our build cost.
the main thing that we see there is what would appear to be a certain amount of front-loading of spending ahead of people expecting price increases from tariffs.
Last week's tariff announcements were clearly part of a broader strategy and an effort to reset trade relations between the US and the rest of the world.
We're being very thoughtful about that because about 15% of our revenue is in Canada or Mexico.
Markets may take some time to sort out saber rattling around trade and tariffs, but BlackRock and our clients see growth and opportunity.
We support the administration's willingness to look at barriers to fair trade in the United States. Though there are certainly risks associated with such significant actions.
While tariff announcements and subsequent market volatility have disrupted near-term deal activity, our pipelines have not meaningfully changed since the beginning of the year and remain robust.
As new car prices go up, that will put a bigger spread between late-model used and new cars.
the guidance that we provided does include the impact for all tariffs announced by the U.S. government on April 2nd and by the Canadian government on March 4th.
This new international trade landscape creates additional complexities and will potentially bring cost pressures.