U.S. Business Leaders Prepare for Long-Term Era of High Tariffs

A new survey reveals that U.S. executives now expect tariffs to remain a permanent reality, regardless of the upcoming presidential election outcome. Speaking to Fortune, PwC partner Kristin Bohl emphasized that CEOs are no longer planning around short-term tariffs, instead integrating them into long-term corporate strategies. This outlook confirms that protectionist policies have become a structural fixture in the global economy rather than a temporary political tool. While these tariffs protect certain domestic sectors, they continue to drive up input costs for manufacturers and fuel persistent inflationary pressures. Market participants are closely monitoring how this bipartisan shift toward protectionism will impact broad equity indices like the SPY and the industrial sector via XLI. Furthermore, the USD/CNY exchange rate remains a key focus as trade tensions appear set to outlast the current political cycle.