Last week’s news of the 90-day pause on many of President Trump’s tariffs should not be interpreted as a chance for U.S. corporate leaders to rest, whether you are one of the many who have been riding the tariff roller coaster since Inauguration Day, or part of a cohort who was caught off guard by the breadth and depth of the policies announced on April 2. 

We are now in a phase where both risk and opportunity must be tracked and evaluated with extra vigilance. The escalation of penalties imposed by the Trump administration on China, and the retaliation from Beijing on US imports, will affect companies and critical supply chain materials and have a major impact on nearly every segment of our economy. As of April 15, Industry-specific Section 232 tariffs persist on steel and aluminum and automobiles, investigations have been announced on semiconductors and pharmaceuticals and a sectoral threat continues against lumber. And more sectors and companies will be lifted or rattled by the regular information coming out about the state of tariff negotiations with critical trading partners.

“Liberation day” and the following news and market activity provided every industry with a window into the potential business, media and reputation impact of tariff policies and the economic reaction. It’s increasingly clear that tariffs are not the end of this story, and whether the impact of tariffs is seen as a worthwhile disruption or a threat to economic stability, all companies will need to address the likely impact on supply chain cost increases, pricing increases, changes and decline in consumer demand and other impacts. From a communications perspective, these 90 days are not a pause but rather a prompt to prepare for ongoing tariff news cycles that will need deeper and different strategic approaches.

What are three things all companies should do?

Partner with policy, investor relations, supply chain and marketing teams to frame your exposure and the fundamentals to manage it. Consider not just what works right now, but what may be needed in the context of concurrent economic contraction. To instill investor confidence, what must be clear is your company’s unique ability to manage volatility and long-term uncertainty. A key outcome is a succinct point of view that differentiates you from competitors, allowing you to frame future conversations around your strengths versus reacting to the media spin cycle of new developments and analysis

Align on the executive team’s risk tolerance. Knowing where key lines are will enable quick decision making and clear communications of those decisions.

Remember that perception is fact. The cadence, tone of voice and channel of any proactive communication—or lack thereof—is what stakeholders will remember than any one fact or metric. And perception of who is best prepared can change in an instant—so be vigilant about tracking not just tariffs, but your competitive set’s response and positioning.

What mistakes could be made by companies?

Misinterpreting silence from supply chain partners as preparedness. Value chain partners are also reacting to real-time changes and may lack the clarity needed to make significant go-forward decisions. Every organization needs to scenario plan around what may happen to their partners up and down their value chain and be prepared for how partners’ actions may impact your business.

Ignoring key stakeholder groups. While shareholders, suppliers and customers are top of mind, employees are experiencing this pause as part of the company and as consumers and need to hear from the organization. Don’t neglect internal communications over the next 90 days but remember that anything shared with employees is likely to leak, so keep your messaging transparent, yet tight.

Rely solely on an outside organization. Trade organizations galvanize industries in turbulent situations, but to leverage their influence, your company first needs to determine and then communicate the specific positions that are best for you.

Viewing communications through a US or market-specific lens: Remember that anything communicated in U.S. media will quickly reach your international markets and employees – and vice versa. Any messages about potential onshoring or other supply chain changes will be received differently overseas and must be approached with sensitivity to local stakeholder concerns. Similarly, any comments made by international leadership will be cited by domestic outlets, dictating the need for careful coordination and tight spokesperson control.

What else should we be watching for?

Retaliatory actions from trade partners. The landscape of both tariff and non-tariff retaliatory action continues to evolve with every new U.S. action. In the shortest term, staying apprised of developments from China matters for nearly every company and sector.

Supply Chain Shocks. From potentially empty shelves to financially challenged suppliers, media will be eager to highlight signals of greater impact.

Earnings reports—both in and outside your sector. The expectation is these now increasingly closely watched presentations will not share nitty gritty details—leading global companies have already noted it is not possible to share full details of go-forward plans and many have pulled guidance. But questions from your suppliers and customers about the projected strength of their business will be key to framing your company’s report.

Broader Administration actions. With the Trump Cabinet fully in place, broader policy agendas will be taking shape during this window and could culminate in a period of even greater change and communications challenges.

Pro- and Anti-American sentiments. Brands and businesses have the potential to be pulled into conversations, “Buy American” promotions and/or boycotts.

Your company’s best response sits at the intersection of your operational insulation, current public profile and the tariff world order at that exact moment. Internal—but also external—decisions will impact your organization far beyond 2025.

Using these 90 days for readiness instead of rest will prepare you for these next three months and beyond.