A majority (54%) of US-based companies said they’ll need to raise prices following President Donald Trump’s so-called “Liberation Day” announcement, compared to 46% that said the same thing before the big April 2 reveal, according to an Allianz survey. There’s been a tariff deal since Allianz conducted its survey. The US and China earlier this month agreed to a 90-day pause that lowers tariffs on Chinese imports from 145% to 30%, and lowers China’s tariffs on US goods to 10%. This likely changes little for pricing strategies, according to Allianz. “Despite recent positive developments, price hikes are likely to remain the go-to strategy globally to counter tariff impacts,” the report states. The insurance giant, which gathered responses from 4,500 companies globally in March and April, found that nearly three in five expect the trade war will negatively impact them. For more on how companies are responding to tariffs, click here.—AZ |