News Summary
A recent survey indicates that Tennessee business owners are feeling the effects of tariffs but remain optimistic about the state’s economy. While many are passing some costs to consumers, a significant number still believe in positive economic growth. 44% feel the economy is worse than last year, yet 69% agree Tennessee is moving in the right direction. The survey conducted by the Boyd Center highlights a hopeful outlook amongst business leaders who recognize both challenge and opportunity in the current economic climate.
Tennessee business owners are feeling the impact of tariffs but remain optimistic about the state’s economy, according to a recent survey conducted by the Boyd Center for Business and Economic Research at the University of Tennessee, Knoxville. The survey reveals that 44.2% of business owners are passing some of the tariff costs to their customers, while 12.9% are transferring all such costs.
In terms of the overall impact of tariffs, nearly half of the respondents reported that these tariffs have affected their businesses “a little.” Meanwhile, 26.4% indicated that tariffs have impacted them “a lot.” Despite these challenges, many business leaders believe that the risk of a recession in the U.S. is low. Around 44% of respondents feel that the U.S. economy is either a little or considerably worse compared to last year, while 21.4% stated that it remains about the same. On the other hand, 34.5% reported an improvement, indicating that they believe the U.S. economy is a little or considerably better than it was last year.
Furthermore, an impressive 69.4% of business leaders consider Tennessee to be moving in the right direction. This positive sentiment is reflected in the expectation that the state’s economy will perform better than the national economy over the upcoming year, with about 66% of respondents expressing this belief. The survey also highlighted that 70.7% feel the state government is doing a good or excellent job of fostering a favorable business environment, which marks a slight increase from the previous year.
Survey Details and Methodology
The survey, which sought to measure the attitudes of business owners towards tariffs and the economy, gathered responses from a diverse group of Tennessee business leaders. The data indicates a complex relationship between tariff pressures and business optimism. While the immediate impacts of tariffs are felt, a significant portion of the business community remains hopeful about future economic prospects.
Context of Economic Sentiment
The level of optimism among Tennessee business leaders is further supported by the findings from the Boyd Center’s 2025 report to the governor, which reflects a positive outlook for the state’s economy. Despite ongoing discussions about the possibility of an economic downturn, the overall sentiment suggests that the state’s businesses are prepared to adapt to the challenges posed by tariffs and other economic variables.
Ongoing Economic Dynamics
As Tennessee continues to navigate the economic landscape impacted by tariffs, the survey findings illustrate a balanced perspective among business leaders. They acknowledge the pressures from tariffs but also recognize the proactive measures taken by the state government to support the business environment, which contributes to their overall sense of optimism.
With a significant portion of business leaders viewing the current economic conditions with a sense of cautious optimism, Tennessee stands poised to potentially weather the implications of national economic challenges, relying on resilience and a favorable state climate for business development.
Deeper Dive: News & Info About This Topic
- Fox 13 Memphis
- Wikipedia: Tariffs
- Times Free Press
- Google Search: Tennessee economy tariffs
- WATE
- Encyclopedia Britannica: Economics
- WJHL
- Google News: Tennessee tariffs business leaders
- Knox News
Author: HERE Nashville
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