Track how companies discuss tariffs and trade policies in their earnings calls, and understand their impact across different industries and regions.
Our industrial end markets are exposed to tariff-related uncertainty, which was evident during the first quarter before the April 2 announcement.
While we continue to see new opportunities in the pipeline, the pace has slowed recently due to overall macroeconomic uncertainty.
the tariff situation is is kind of a replay of COVID situation we had a few years ago.
As a financial services provider, we do not require inputs or produce products that are subject to trade tariffs.
Given the cadence of tariff announcements and the evolving start and stop nature of these discussions ever since, we don't yet know to what degree, if any, tariff-related cost increases will impact our gross margin in the second half of 2025.
The tariffs add a fair amount of uncertainty to what's going on in the economy, and that makes it difficult for people to make incremental investments.
Recent U.S. Trade discussions have created significant uncertainty around changes to global supply chains, taxes, inflation, and interest rates.
There is both on the production ag side and the dairy side, there are exports that go out, and so there could be some impact. But overall, there hasn't been that great of an impact yet.
We are fortunate to have limited exposure with respect to tariffs.
What we are hearing back from them today is that it is just too soon to make a definitive statement on what impact, if any, tariffs are going to have on their sourcing of product.