Big US companies have not viewed removal of tariffs as big deal in ending China trade war
CFOs of U.S.-based corporations do not think reduction in tariffs are the key to resolving the trade war with China.
Reduction of tariffs to pre-2016 levels was cited only by 5% of U.S.-based CFOs as an issue that they would like to see come out of a trade deal with China. Elimination of tariffs also was cited by only 5% of U.S.-based CFOs. In the Europe, Middle East, Africa region and Asia-Pacific region, though, the tariffs issue is a much bigger deal. Forty percent of EMEA CFOs cited reduction of tariffs as the No. 1 issue, and another 20% of EMEA CFOs cited elimination of all tariffs. In Asia 30% of CFOs cited elimination of all tariffs as what their companies would like to most see come out of a trade deal.
C-suite views on trade policy also moderated in the second quarter. Roughly 42% of CFOs say U.S. trade policy will be a negative for their businesses over the next six months, down sharply from a peak of 75.7% in Q4 and 63% in Q1. Meanwhile, 15.6% say trade policy will have a positive impact, up from roughly 5% in Q1. Among U.S. CFOs, 35% said U.S. trade policy will be a negative over the next six months. A combined 60% said trade policy would have a positive impact or no impact .
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