Tariffs are the new normal, and now most CEOs expect the import taxes to outlast the Trump administration, PwC report finds

Ancient Greek philosopher Heraclitus was credited for saying, “Change is the only constant,” and about 2,500 years later, American CEOs are heeding his wisdom.

Executives are accepting tariffs as the new normal and are preparing to weather the levies even after President Donald Trump leaves office, according to a report published on Monday from consultancy PwC. In a survey of 633 U.S. executives conducted last month, PwC found 86% treated tariffs as a permanent planning assumption.

“CEOs aren’t planning around short-term tariffs anymore,” Kristin Bohl, PwC U.S. partner in Customs and International Trade Practice, told Fortune. “They’re treating tariffs as part of the new normal for doing business, with the expectation they’ll be in place for years.”

Despite the Supreme Court striking down tariffs Trump imposed under the International Emergency Economic Powers Act (IEEPA), uncertainty has remained around the future of U.S. import taxes.

Following the ruling, Trump imposed a 15% global tariff under Section 122 of the 1974 Trade Act, which authorizes a temporary, 150-day tariff without congressional approval. These levies would expire July 24. Tariffs imposed under Section 301, which Trump invoked under his first administration in........

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