
February 5, 2025
The Impact of Tariffs: NeuGroup’s 2025 Treasury Outlook Survey
The effects of tariffs and changes in immigration policy on inflation, the economy and rates top the list of impacts. President Trump’s announcement last Saturday of 25% tariffs on imports from Mexico and Canada seemed to confirm the expectations of the vast majority (87%) of respondents to the 2025 NeuGroup Outlook Survey who said tariffs would have the greatest impact on them of any changes under the new administration (see chart). “When he announced them over the weekend, it’s like everyone’s hair…