Businesses pull back on hiring plans amid trade war

(CNN)– Corporate America is worried about President Donald Trump’s tariff threats, and now some businesses are pulling back.

According to a survey of chief financial officers released on Wednesday, March 26, a quarter of U.S. businesses have scaled back hiring plans because of Trump’s trade war.

Likewise, 25% of CFO’s say they have cut their capital spending plans this year.

After Trump’s election victory, CFO’s were asked the most important issue facing their firms, tariffs only ranked number ten.

Now, tariffs are number one by a long shot.