A recent survey conducted by insurance brokerage Gallagher has revealed that a significant majority of U.S. business owners are worried about the potential impact of President Donald Trump’s newly introduced tariffs on their supply chains. The findings point to growing uncertainty among companies navigating a global economic environment marked by trade friction, cybersecurity threats, and climate-related disruptions.
Tariff Policies and Supply Chain Disruptions
According to the survey results, 90% of respondents reported concerns about how the latest round of tariffs might affect their business operations. These concerns come amid heightened geopolitical tensions and ongoing global supply chain instability.
J. Patrick Gallagher, Chairman and CEO of Gallagher, stated: “Our survey showed supply chain disruptions were a concern to business owners… Global supply chains, strained by geopolitical conflicts and extreme weather events, remain vulnerable to disruptions.”
Gallagher noted that many companies are actively seeking ways to diversify and strengthen their sourcing and logistical strategies in response to these risks.
Broader Risk Landscape for U.S. Businesses
The survey, which polled 1,000 business owners across the United States, also captured additional risks seen as top priorities for the year ahead:
- Cybersecurity: 72% of respondents expressed strong concerns about the potential for cyberattacks over the next 12 months.
- Supply Chain and Weather-Related Risks: 69% highlighted supply chain disruptions and severe weather as major areas of concern.
- Artificial Intelligence (AI): Nearly all business owners said they were at least somewhat concerned about the impact of AI on their operations. This figure is up from 85% the previous year, indicating a growing awareness of AI-related risks and uncertainties.
Claims Activity and Insurance Coverage
The Gallagher survey also provided insights into insurance claims activity among businesses:
- Nearly 87% of U.S. business owners with insurance coverage reported filing at least one claim in 2024.
- Most claims exceeded $25,000 in value.
- Only a portion of those claims were covered under existing policies, highlighting possible gaps in coverage or mismatches between risks and protection.
Context: A Complex Operating Environment
The survey’s findings align with broader challenges currently facing U.S. businesses. Supply chain stability plays a critical role in managing costs, ensuring timely delivery, and avoiding inventory shortfalls. However, the combination of geopolitical developments, extreme weather, and evolving digital threats has increased the complexity of maintaining consistent and resilient operations.
A recent Reuters analysis indicated that previous rounds of trade friction and tariff implementations have cost U.S. businesses more than $34 billion in lost sales and added expenses. As trade policies shift and global uncertainties persist, businesses are expected to remain focused on managing exposure to supply chain interruptions and other operational risks.
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