Many businesses already reported the adverse impact of US tariff policy on their profitability, even before the changes take place this month, according to global research from Enable.

The study finds that 75 per cent of companies are already experiencing profit losses due to tariff impacts. 

Up to 92 per cent of businesses say they are concerned about tariff impacts over the next 12 months, with 31 per cent “extremely concerned”. 

Some 79 per cent of companies plan to increase prices to offset tariff impacts, with 53 per cent saying it takes weeks or months to implement price changes. 

In addition to raising prices as the primary response, 56 per cent of respondents say they will reduce costs elsewhere, while 46 per cent say they will change suppliers. About 43 per cent are considering scaling back or withdrawing from high-tariff markets entirely. 

“With costs shifting unpredictably and 92 per cent of retail businesses admitting their current pricing responsiveness risks further profit loss, pricing agility has become an essential survival skill,” said Andrew Butt, founder and CEO of Enable. 

“The lag between tariff updates and implementing price changes creates a window where competitors with faster pricing capabilities can capture significant market advantage.”

The research also finds that traditional pricing approaches are inadequate in the current trade landscape, with 76 per cent of businesses expecting to invest in pricing tools within the next 12 months.

The study surveyed 1500 senior business leaders with pricing responsibility across retail, FMCG, manufacturing, and wholesale distribution in the US, UK, Germany, Austria, and Switzerland between June 19 and 30.

Last week, US President Donal Trump signed an executive order on reciprocal tariffs for exports from 69 trading partners, which lists higher import duty rates of 10 per cent to 41 per cent starting from August 7. The order was announced just hours before the original deadline of August 1.