U.S. CEO confidence has plunged to a multi-year low, with business leaders reacting to President Donald Trump's tariff rollout, according to Chief Executive magazine.
A survey of 329 U.S. CEOs and business owners, conducted from April 8 to 10, revealed the confidence index has dropped to its lowest level since the COVID-19 pandemic shuttered business in the spring of 2020, reflecting their assessments of current business conditions and the outlook for the next 12 months.
An overwhelming majority of CEOs in the April survey attributed their declining optimism to Trump's global tariff regime. Among the surveyed executives, 67 percent expressed disapproval of the tariffs, while 76 percent predicted they would negatively or severely impact their businesses this year.
On the other hand, U.S. tariffs are disrupting the infant care market, according to a separate news report published Sunday. The Juvenile Products Manufacturers Association, a U.S. trade group, estimates that 90 percent of core baby care products and their components are manufactured in Asia, with the vast majority coming from China.
The Juvenile Products Manufacturers Association has requested a tariff exemption from the Trump administration, emphasizing that baby products are vital to children's health and well-being.
Steven Dunn, CEO of baby bottle maker Munchkin Inc. said that he had to halt orders from China -- where about 60 percent of his company's products come from. He expects Munchkin will run out of some products within three months.
Munchkin, founded by Dunn in 1991, used to make baby bottles in California with tooling from New Jersey. But over the years, the manufacturers he used shut down and the cost of doing business in the U.S. skyrocketed.
So far, there is not enough tool makers and manufacturing expertise and automation and skilled labor in the U.S. to make the thousands of products the juvenile industry needs, Dunn highlighted.
CEO confidence at multi-year low amid fallout from Trump's tariff policies: U.S. magazine poll
U.S. CEO confidence hits record low amid fallout from Trump's tariff policies
