Track how companies discuss tariffs and trade policies in their earnings calls, and understand their impact across different industries and regions.
the economic backdrop, especially in light of continued uncertainty around global trade policies could turn out to be materially different than our assumptions.
While Snap-on is relatively advantaged in the current tariff environment, generally manufacturing products in the markets where they are sold, our cost can be affected by trade policies.
there's more uncertainty in the marketplace with, you know, tariff trade, you know, tax or excuse me. Tariff slash trade taxes, which has a little bit more clarity.
we can see them start to understand the future and expect them behave accordingly.
the one fly in the ointment is tariffs. However, at this point, we still do not believe that the tariffs will have a significant impact on project economics.
The ultimate impact on growth from higher tariffs is yet unknown.
We acknowledge the potential for a slowing in the economy, and are attuned to downside risks and uncertainty.
We saw a continuation of utilization increase largely in sort of our asset-backed areas and some middle market.
Some customers have pulled freight forward, some continue to execute demand-driven strategies, and others are making changes to their country of origin and manufacturing plans.
Other than some specific client traffic issues, with them being more impacted by proposed tariffs than not, in general, I don't think the environment's changed all that much since the last time we spoke.