More than 60% of U.S. CEOs say that they expect a recession or economic slowdown within the next six months, as the Trump administration's tariffs have sparked fear and uncertainty in global markets. 

According to a monthly survey of more than 300 CEOs taken by industry group Chief Executive, two-thirds said that they do not approve of Trump's tariffs, while 76% said that they believe tariffs will negatively impact their businesses in some way this year. Another 81% of CEOs said that they expect the cost of goods, services and labor to rise in 2025, with half predicting a double-digit year-over-year increase. 

“Although I am in support of moving more manufacturing back to the U.S., this is not how to do it,” Sani-Matic CEO Peter Ensch told Chief Executive. "Initiating a trade war with our closest allies and business partners is simply bad business."

Read More: Price Hikes and Tariffs: Some Common Sense

Comments from other CEOs were similarly critical of the White House's current approach to trade, with one calling Trump's strategy a "train wreck," and another calling the President "absolutely clueless." Additionally, the proportion of CEOs predicting a recession or slowdown rose from 48% in March to 62% in April, thanks in large part to concerns over the uncertainty created by Trump's 11th-hour decision to pause the majority of his planned tariffs for 90 days. The percentage of executives who believe their profits will increase in 2025 also dipped from 76% in January to 37% in April.