(CNN) – Corporate America is worried about President Donald Trump’s tariff threats, and some businesses are now pulling back.
According to a survey of chief financial officers released Wednesday, a quarter of United States businesses have scaled back hiring plans because of Trump’s trade war.
Likewise, 25% of CFOs said they have cut their capital spending plans this year.
After Trump’s election victory, CFOs were asked the most important issue facing their firms. Tariffs only ranked number 10. When they were recently asked again, tariffs were number one by a long shot.
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