The Impact of Tariffs: Expert Analysis from Leading Market Research Firms

Tariffs have sent shockwaves through global markets and disrupted businesses across a wide range of industries. Amid these trade tensions, companies face unprecedented challenges in supply chain management, pricing strategies, and long-term planning.

To help make sense of these shifts, I've assembled insights from a variety of market research executives and analysts who are tracking these developments. Their perspectives reveal not just the immediate impacts of tariffs, but also data-driven approaches companies can use to navigate increased market volatility.

From manufacturing to e-commerce, these experts highlight both vulnerabilities and opportunities emerging from today's shifting trade policies. They offer valuable recommendations for decision-makers seeking stability in an increasingly unpredictable global economy.

Industry Experts Weigh In: The Impact of Tariffs

Divya Verma, Senior Research Analyst, MarketsandMarkets
The impact of tariffs in 2024–2025 will be one of the most challenging periods for stakeholders across the global supply chain. With shifting trade policies and unpredictable tariff impositions, companies will face rising costs, supply chain disruptions, and changing trade dynamics. Decision-makers must be prepared to navigate an increasingly complex environment where traditional strategies may no longer suffice. The key to staying competitive lies in data-driven decision-making — leveraging real-time analytics to track tariff impacts, adjust sourcing strategies, and optimize pricing. The volatility of these global markets demands that companies remain agile, informed, and ready to pivot in response to market changes.

Stuti Mahajan, Manager, Consulting & CI, DelveInsight
The ongoing tariff standoff between the US and China is more than just a trade issue—it’s a brewing storm for the healthcare sector. From active pharmaceutical ingredients (APIs) to high-value biologics, global supply chains are deeply intertwined with Chinese manufacturing. As tariffs tighten and uncertainty grows, we’re already seeing early signs of stress across procurement channels and pricing structures. For healthcare companies, the impact is twofold: rising input costs and increasing risk to supply continuity. This could translate into costlier generics, potential shortages, and delayed launches for novel therapies. More importantly, we expect a shift in strategic priorities — away from aggressive innovation and toward safeguarding existing operations and margins. From a consulting lens, clients are asking the right questions: Where are we most exposed? How quickly can we diversify suppliers? What will the cost implications be six months from now? These are not just tactical concerns — they’re boardroom issues. The demand for real-time, data-driven insights has never been higher. In times like these, the difference between reaction and resilience lies in foresight. Companies that lean into market intelligence, scenario modeling, and geopolitical risk planning will be better positioned — not just to weather the disruption, but to gain competitive ground while others play catch-up. In this climate, data-driven market intelligence is critical to anticipate trends, inform decisions, and optimize strategy — before reactive measures become the only option.

Saransh Parmar, Senior Research Manager, BCC Research
The tariffs imposed by the U.S. have impacted the global supply chain, leading to a gap in supply and demand. These tariffs are significantly impacting the pricing of commodities like steel, rare earth metals, and other core raw materials crucial to manufacturing a wide range of products. These products are used in various industries such as automotive, semiconductor, aerospace, electronics, and others. However, tariff-applied countries are negotiating directly or indirectly with the U.S. administration to achieve a trade balance in the coming months. Considering the current turbulence in the international market, data is a new oil for clients; it is a precious source for customers to keep thriving in the market. Therefore, to navigate the uncertain global trade landscape in light of the ongoing trade war, companies can rely on actionable data to make informed decisions and strategize for long-term sustainable business.

Oliver Guirdham, CEO, The Business Research Company
We’ve identified two critical shifts brought on by the current environment. The first is the rising need for up-to-date market information, particularly for market forecasts. In rapidly evolving conditions, timely data can make the difference between informed decisions and strategic missteps. The second shift involves sourcing. As companies face new trade barriers, many are actively seeking alternative suppliers to reduce risk and maintain operational stability. This has led to a growing interest in sourcing intelligence — tools and research that can help identify viable supply chain options.

Jennifer Christ, Research Manager, The Freedonia Group
Uncertainty is extremely high right now, with on/off tariffs, global disputes, and changing government priorities disrupting short-term plans. But successful businesses stay focused on the long run with clear goals laid out along the way. Instead of waiting for “perfect” clarity or matching data to the exact current moment (which changes tomorrow), companies need robust, long-term data and analysis that understands the long-run and has the business cycles and volatility of past eras baked into the models. Strategic planning must be data-driven and resilient to headlines since facilities can’t be built in a month and supply chains can't be restructured overnight. Focus on adjustments that are within your control — whether it’s the pacing of product launches or equipment investments, diversifying sourcing, or adjusting inputs and packaging in response to cost shifts. Still, long-term growth remains key. Core fundamentals like sustainability, better-for-you products, or labor-saving innovations are core for a reason and require commitment and long-term development, even if near-term execution needs to be flexible. Yes, there’s short-term pain and confusion, but also real opportunity. Keeping up with an experienced and multidisciplinary research firm can help you see both the forest and the trees.

John LaRosa, Research Director, Marketdata LLC
In this environment of tariffs, it's important to realize that the United States is now mostly a service economy. Services are not directly affected by tariffs, since there is no manufactured product that's being imported. As a result, the dozens of commercial and personal care services that we track at Marketdata, including healthcare sectors, are not directly affected by tariffs, but they are affected by the overall economy and consumer spending, which are being depressed by the Administration's actions. Overall, tariffs are a negative and most companies would rather see them go away.

Yücel Yelken, CEO & Founder, yStats.com
We examine the impact of tariffs through the lens of global e-commerce performance and payment trends at yStats.com. The evolving tariff environment is not just raising costs, it is reshaping competitive dynamics across borders. Cross-border sales from U.S. retailers to Mexico and Canada have declined significantly, while local merchants in those countries are gaining market share. This shift reflects rising operating costs and growing uncertainty in trade policy. In response, companies are adapting. Platforms like Shein and Temu are increasing prices and reducing U.S. advertising as they adjust to new tariffs and the elimination of duty-free exemptions. At the same time, retailers like Weee!, an online grocer specializing in Asian and Hispanic food products in the U.S., are working to maintain accessibility by accepting SNAP payments — a government assistance program that helps low-income households purchase groceries. Looking ahead, businesses must develop adaptive strategies that account for regional trade disruptions, evolving payment ecosystems, and the increasing interplay between policy and consumer trust.

Jack W. Plunkett, CEO, Plunkett Research, Ltd.
While the final outcome of U.S. tariff negotiations is far from decided, market research may help you gain vital insights. I recommend taking a reasonably conservative approach when utilizing market research in your decision-making: 

Look to recent reports covering your industry of interest for historic growth trends and forecasts. It is too early for researchers to hard-code adjustments to their forecasts. If an industry has been enjoying growth and recent forecasts have been strong, assume that the actual growth rate will be somewhat slower over the mid-term (due to rising costs, slower demand or supply-chain problems). For example, if 10% yearly growth has been forecast recently, you might use a 5% growth rate for the next three years instead. For domestic manufacturing, retailing, and distribution industries that you know to rely heavily on foreign-made components or finished goods, be conservative by assuming somewhere between 0% year-over-year industry growth to a 10% decline. For many domestic services industries, you may be able to assume that they will not be seriously hit, depending on your insights.

These are just rules of thumb that need to be adjusted based on your personal knowledge and industry experience. Once the dust settles, more formal estimates of industry impacts can be created. The point today is to rely on expert opinions, along with your own insights, to both manage your risks and consider unique new opportunities that will arise.

Mohammad Faisal Ahmad, CEO, BIS Research
As global tariffs trigger a $300 plus billion realignment in manufacturing cost structures, speed alone is no longer enough—clarity is critical. At BIS Research Inc, we empower companies with data-driven foresight to navigate the shifting supply chain landscape. From identifying low-tariff manufacturing hubs to benchmarking India’s 20%+ annual FDI growth in key sectors like electronics and automotive, we help global firms execute on their China Plus One strategy with confidence. Whether it's evaluating Vietnam's rising export capabilities or LATAM’s nearshoring potential, our intelligence goes beyond disruption—it's about decoding complexity into competitive advantage. In an era of global fragmentation, our mission remains focused: to deliver precise, actionable insights that move business forward.

Joe Newsum, CEO, Kentley Insights
Our deep-dive analysis of tariff implications across sectors reveals staggering impacts on both cost structures and demand dynamics—affecting virtually every industry in ways that transform traditional market assumptions and strategic positioning.

Kamran Zamanian, CEO, iData Research
Tariffs are sending shockwaves across global supply chains, reshaping cost structures and forcing companies to rethink sourcing and pricing strategies. In this rapidly changing environment, data-driven decision-making is no longer optional, it’s essential. Market research plays a pivotal role in enabling businesses to quantify the direct and cascading effects of tariff changes, from raw material costs to downstream pricing. The companies that succeed in this turbulent climate are those that leverage accurate and actionable insights to mitigate risks proactively and uncover new opportunities to accelerate growth, even in the face of persistent trade uncertainty.

The Path Forward in an Era of Volatility

While uncertainty remains a constant in today's trade environment, companies that build data-driven strategies and remain adaptable will be better positioned to weather these changes. Whether by identifying alternative supply chains, recalibrating growth expectations, or recognizing emerging competitive advantages, businesses have options beyond simply absorbing increased costs. The path forward may be challenging, but with the help of quality market data, organizations can identify opportunities for innovation and resilience.