More than half of American companies say that they plan to raise prices due to tariffs from the Trump administration, while nearly 60% of companies globally expect to see negative impacts from U.S. trade policies.

According to a survey from insurance provider Allianz of 4,500 companies in China, Europe, the U.K. and the U.S., 42% expect export turnover to fall by as much as 10% over the next 12 months. Less than half of companies expect to see positive export growth over that period, with 32% saying they intend to stop imports of offshore production to avoid delays or increased costs.

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Although the 90-day pause on reciprocal tariffs between the U.S. and China provided businesses with some measure of relief, the concern among companies surveyed by Allianz is that the reprieve will likely prove to be temporary. As a result, almost half of exporters are anticipating an increase in non-payment risk over the next six to 12 months, with manufacturing firms stuck waiting the longest to get paid out of any sector.

"For companies strongly integrated into global supply chains, geopolitical risks and the trade war are top-of-mind and are provoking reconfigurations," the report reads, with 54% of companies listing geopolitical turmoil, political risks and social unrest among the top three threats to their supply chains.

That's had many searching for ways to rework their supply chains altogether, with 34% having found new locations to offshore production sites and suppliers, with another 59% planning to do so in the near future. The sense of urgency is even more prominent in the U.S., where 60% of companies have already identified relocation destinations.

To manage the larger financial pressures created by President Trump's tariffs, just 22% said that they intend to absorb the costs themselves, instead preferring to pass those costs on to consumers as the "go-to strategy," and then to suppliers as well to help handle the increased responsibility of customs duties. To that end, nearly 60% are choosing to add pricing clauses in new contracts to share foreign exchange risk with clients and suppliers.