Track how companies discuss tariffs and trade policies in their earnings calls, and understand their impact across different industries and regions.
Although we will not be able to fully mitigate the direct impact of tariffs, we believe that we are relatively well positioned.
tariffs can and will continue to drive market volatility period
we have not seen any meaningful impact on our business to date. That includes costs or that we have to potentially absorb for drugs that are already launched or future drugs.
the majority of our operations are not impacted by tariffs, as products for distributions to cruise ships are held in a free trade zone.
we're getting a more cautious tone from the customers
We have implemented actions to mitigate the relevant tariff impact on our business based on current tariff rates, with price increases being the predominant tool.
While we suspect that a tariff and trade uncertainty may be behind some of the industrial services weakness this quarter, refinery customers have been under pressure for some time due to local crack spreads.
We may see more volatility in our net loan growth over the next few quarters due to uncertainty regarding the pace and timing of payoffs and the potential impact of tariffs and interest rates on loan demand.
The new tariffs and fluid trade policies have created market uncertainty and a lack of clarity, making planning activities more difficult.
In 2025, we expect the cost basis on which imports into the U.S. will be subject to the current tariffs to represent approximately 60% of our global cost of goods sold.