Worsening economic conditions will be felt deeply by issuers if the tariffs remain in their current form

The impacts of the Trump Administration’s new tariffs are already rippling through global supply chains and consumer markets. "US retailers should be dusting off their inflation playbooks and brace for erratic shifts in spending patterns," warned our analyst Blake Droesch.

TikTok receives another 75-day extension: As Trump signs a second executive order to keep the app alive, its future remains murky.

Pharma companies sidestepped the Trump administration's broad tariff orders: It’s a pharma win for tariffs, but the president’s comments on foreign tax breaks and manufacturing reshoring demands still signal potential for challenges ahead.

Trump’s “Liberation Day” provides little clarity: The tariff announcements, while far-ranging and punitive for the US’ largest trading partners, failed to lift the cloud of uncertainty hanging over businesses and consumers.

Amazon and AppLovin make TikTok bids as sales deadline approaches: While a deal has yet to be inked, Trump and TikTok seem to be confident in the app’s future.

Global ad spend slows compared to initial expectations: The downtrend is attributed to stagflation, looming recessions, and intensifying tariffs threats.

Many may turn to BNPL to make these purchases, providing a growth opportunity for providers

Backlash builds against US brands as more tariffs loom: Global consumers are shunning US products, posing a threat to retailers, CPG companies, and the travel sector.

Uncertainty is having a chilling effect on US M&A activity: The number—and size—of deals is down YoY as companies wait for more clarity on government policy.

Efforts to keep TikTok in the US grow, but confidence is low: While Democratic senators and Trump float ideas to extend the April deadline, key players are stepping back.

Chewy reaps the rewards as pet spending shifts online: Meanwhile, Petco is hoping a partnership with Uber Eats and a new direction under CEO Joel Anderson will help narrow the gap.

Ad revenues outlook declining amid economic uncertainty: The latest Magna ad sales forecast indicates several factors are at play in the downturn.

Dollar Tree’s market share is growing as consumers across incomes prioritize value: The retailer sees strong prospects as it offloads Family Dollar and expands its multi-price assortment.

Consumers brace for tariff-related price hikes: Some take preemptive action, with 1 in 10 shoppers making a big-ticket purchase to sidestep rising costs.

The UK economy is in a tough spot: Consumers are keeping a tight grip on their wallets as tariffs and government budget cuts loom.

70% of US adults believe tariffs will lead to higher prices on food, electronics, and other goods, but only 26% are stocking up on items they think will cost more, according to a February 2025 survey from Ipsos.

The USTR’s plan to impose steep fees for China-built commercial ships is “more of a threat than tariffs”: Carriers could face millions in charges for each US port call—costs that will be passed on to retailers and, eventually, consumers.

Influencer marketing is maturing and diversifying. While the turmoil at TikTok and the escalating trade war are causing temporary uncertainty, the industry will remain resilient as momentum around influencer marketing grows.