Track how companies discuss tariffs and trade policies in their earnings calls, and understand their impact across different industries and regions.
we would have raised our expectations for 2025. Instead, we are electing to maintain earnings guidance as there are no policy conclusions right now to plan differently
the impacts of tariffs and related policies contribute to a wait-and-see mindset among many.
We recognize there are a lot of questions right now about how tariffs may impact the market.
Well, it would dampen economic activity here in the US and abroad. Cross-border trade flows will change.
If these tariffs are implemented as proposed and remain in effect for an extended period, it's quite possible the probability of a recession will go up.
As we look at the especially in the next ninety days. And how some of these tariffs and other moves get negotiated or do they stay in place?
We procure more than 90% of our products domestically, so that's a very different position than some of the competitive set out there.
The somewhat pause that we're seeing from larger organizations and medium-sized organizations due to the tariff concerns last all through the quarter.
We do not yet see any decrease in the appetite of our non-US clients for opening an account and trading mostly US markets.
We're monitoring markets, tariff policy, tax rules, regulatory requirements, and we'll react as necessary to steer our company.