Tennessee business leaders remain optimistic amid tariff impacts, survey reveals

Although Tennessee business leaders say they are feeling the effects of tariffs, according to a new survey by the Boyd Center for Business and Economic Research at the University of Tennessee, most still believe the chance of a U.S. recession is low and think Tennessee’s economy has a better outlook than the national economy over the next year.

About a quarter of employers who responded to the latest tennessee business leaders survey, administered in august of this year, said tariffs have affected their business a lot, while almost 50% said they have felt a little effect from tariffs.

Nearly half said they are passing on some or all of the tariff costs to customers.

“The supply side, in certain markets, is having some issues mainly because of employment shortages, but you can also look at housing, with the supply of housing not being able to keep up with demand in the past few years. You know, the availability of workers across the board, especially in agriculture and construction,” said Don Bruce, director of the Boyd Center.

However, nearly two-thirds of employers believe Tennessee’s economy will outperform the U.S. economy over the next year, which they attribute to business investments and government leadership in the state.

For more news across the state, click here.