Citigroup CEO says most clients can absorb 10% tariffs

Business Clients Can Absorb a 10 Percent Tariff: Citigroup CEO

The head of one of the world’s largest banks said the company’s business clients have told her that they “can absorb” a 10 percent tariff. Citigroup CEO Jane Fraser said on May 5 that those same clients have indicated that a 25 percent tariff or higher wouldn’t be as tolerable. Fraser spoke at the Milken Institute’s Global Conference in Los Angeles. Over the past month, the world’s financial sector adopted a reactionary posture as the United Sta…

Citigroup CEO says most clients can absorb 10% tariffs

NEW YORK (Reuters) -Citigroup CEO Jane Fraser said on Monday most of the bank’s clients could absorb U.S. tariffs of 10% the nation’s trading partners, but cautioned companies are waiting on investments and hiring until there is more economic clarity. “If it is 10%, most of the clients we talk to say, ‘yeah we can absorb that,’ if it is 25%, not so much,” Fraser said at the Milken Institute Global Conference in Los Angeles. “Most companies are i…

Citigroup CEO says most business clients can absorb 10% tariffs

Citigroup CEO Jane Fraser said on Monday most of the bank’s business clients could absorb US tariffs of 10 per cent on the nation’s trading partners, but cautioned that companies are waiting on investments and hiring until there is more economic clarity.