With the Trump administration’s April 2, 2025 announcement of far-reaching tariffs, it is not surprising that more companies in the Russell 3000 index are concerned about their impact on financial performance.

A CompanyIQ® review of 10-K filings in the first quarter of 2024 compared to 2025, prior to yesterday’s imposition of the new tariffs, indicate a nearly 40% increase in companies identifying this element of U.S. trade policy as a risk. Specifically, in Q1 2025, 1,823 companies identified tariffs as a risk factor compared to 1,309 during the same period last year.

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