CEO Claims Trump's Tariffs Could Boost Company Profits

Trump's Tariffs Spark Economic Concerns, But CEO Sees Profit Potential

While President Donald Trump's tariffs have sparked concerns about economic consequences, particularly in terms of rising prices and a potential recession, one CEO believes they might benefit his company. The White House / Wikimedia

ServiceNow CEO Sees Opportunity in Tariffs, Promotes Cost-Cutting Solutions

ServiceNow CEO Bill McDermott expressed optimism, suggesting that the tariffs may push businesses to seek out cost-cutting solutions like his company’s AI-powered workflow automation. @BillRMcDermott / X

ServiceNow CEO Says Economic Uncertainty Driving Demand for Efficiency Tools

McDermott, whose company focuses on streamlining IT operations, told Fortune that as businesses grapple with economic uncertainty, many are looking to reduce costs and improve efficiency. "Companies have uncertainty in the global economy, which is why they're looking at their [operating expenses], they're looking at their margin profile, and they're very focused on efficiency and effectiveness," he said. He added that ServiceNow's ability to help businesses quickly cut costs and improve ROI makes the company an appealing option during such turbulent times. @BillRMcDermott / X

ServiceNow Stock Rebounds After Initial Drop, CEO Optimistic Despite Market Concerns

Despite ServiceNow's 6% drop in stock value following Trump's tariff announcements, the company has since seen a 21% rebound, indicating some confidence in its prospects despite broader economic concerns. However, the general CEO sentiment remains skeptical, with a poll revealing that 67% of CEOs do not support the tariffs, and only 12% believe they would benefit businesses. Donny Gonzo / Wikimedia

Labor Unions Back Tariffs, But Public Opinion Remains Divided

While some labor unions, like the Teamsters, have backed the tariffs, claiming they would bring jobs back to the U.S., public opinion on the tariffs is largely negative. A recent YouGov/The Economist poll showed 50% of Americans view the tariffs as harmful to the economy, while a smaller segment (39%) believes they could lead to long-term growth. A separate AP/NORC poll found that 52% of Americans oppose the tariffs. The White House / Wikimedia

Trump Defends Tariffs Amid Criticism Over Consumer Costs and Inflation Risks

Trump has defended his tariff policy, claiming it is necessary to address financial deficits with countries like China and the EU, arguing that they are already bringing billions of dollars into the U.S. On the other hand, critics like Oregon Attorney General Dan Rayfield argue that the tariffs drive up everyday costs for consumers, particularly impacting low-income families. JPMorgan Chase CEO Jamie Dimon also expressed caution, warning that the tariffs could exacerbate inflation and increase recession risks. Xuthoria / Wikimedia