The latest survey of CEOs of Fortune 500 companies conducted by Fortune and Deloitte shows increasing pessimism over the global economic outlook following President Donald Trump’s recent tariffs.
The survey, conducted in April after President Trump announced new tariffs, involved 111 CEOs from Fortune 500 and Global 500 companies as well as those attending Fortune conferences.
Survey responses were collected between April 1, one day before the tariffs announcement, through April 11, two days after President Trump temporarily paused his “reciprocal” tariffs on most U.S. trading partners. Survey respondents were across 21 industries, with 80% of respondents based in the U.S.
More than half of respondents (58%) reported a “pessimistic” or “very pessimistic” outlook for the global economy over the next 12 months, according to Fortune. This is 40 percentage points higher than November.
At the same time, 60% of respondents reported optimism over their own company’s performance, up from 84% in November.
Fortune said 42% of respondents reported plans to “implement cost-cutting measures to offset increased costs” over the next 12 months amid uncertainty related to the economy and global trade policies.
Also, 23% of respondents said they expect to “postpone major new investments” for the next three to six months amid this uncertainty.
Fortune noted the timing of the responses, specifically that they would not have reflected recent optimism during talks between the U.S. and China and other developments.
Health system CEOs have spoken to Becker’s this year about a range of financial and operational pressures they face, including proposed Medicaid funding cuts, as well as an uncertain regulatory environment. They shared how they are preparing for continued uncertainty and what strategies they are prioritizing in response.
