China turns to stimulus, charm offensive to blunt Trump’s tariffs: But US duties of 104% could deal a severe blow to an economy struggling with depressed consumer and business confidence.

41% of US advertisers expecting budget cuts due to tariffs plan to cut from social media, while 24% plan cuts to linear TV and gaming, per February 2025 from the Interactive Advertising Bureau (IAB).

Levi Strauss excludes tariff impact from forecast: The uncertainty and upheaval from the latest duties are making it impossible for the retailer to nail down a mitigation strategy.

Consumers became more cautious with their spending, a trend that could worsen with Trump’s reciprocal tariffs

Bringing manufacturing back to the US is easier said than done: Tariff uncertainty makes it hard for companies to take on large-scale projects.

With iPhone prices poised to spike, Apple’s supply chain edge offers a short reprieve, but panic buying reveals deeper economic fears taking hold

Prada’s Versace deal comes at a difficult time for the luxury industry: Tariffs are threatening brands’ access to US consumers, while recession fears could trigger more conservative tastes.

China’s retaliation rattles markets, but Big Tech could offset losses by leaning into AI, services, and subscriptions—if consumers still bite.

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.