Trump's tariffs have boosted demand for consulting firms, leading to increased revenue and bookings.
From Yahoo Finance: 2025-05-16 13:31:00
Demand for consulting firms like PwC, McKinsey, BCG, and KPMG has surged due to Trump’s tariff announcements. McKinsey, BCG, PwC, KPMG, and SIB have seen increased inquiries from old and new clients. KPMG reported double-digit growth in revenue and bookings across various sectors. Trump’s tariffs have impacted financial markets, prompting consumer stockpiling and business preparation for bottom-line hits. Trump’s DOGE initiative has hurt the consulting industry, but tariffs have spared the services sector, benefiting consultancies. Consulting firms are assisting companies in navigating shifting trade dynamics and rising costs. McKinsey has launched a “Geopolitics” practice, seeing interest from clients in scenario planning and navigating global uncertainty. McKinsey is helping companies highly exposed to trade shifts, as well as consumer sectors sensitive to pricing and sourcing. BCG has engaged in new conversations with clients about trade and tariffs, which were not a hot topic previously. The White House DOGE Office’s cost-cutting efforts have led federal agencies to review spending on consultants. Consulting firms are seeing increased demand for advice on navigating Trump’s trade war, providing a much-needed win for the industry. Clients are seeking insight into how trade disruptions will unfold and are reassessing longer-term strategies amidst the uncertainty. Companies are focusing on managing immediate disruptions and reevaluating investment strategies in response to tariffs. McKinsey reports clients are concentrating on staying competitive by identifying opportunities in a changing landscape. PwC is assisting existing clients with adjusting custom strategies for the evolving trade environment. Industrial manufacturing companies are seeking help with tariff-related disruptions, seeking alternative supply chain sources. Clients are looking for guidance on disruption management and future strategy planning in response to tariffs. Industrial manufacturing and consumer retail sectors are seeking consulting help to navigate tariff impacts. Clients are demanding action plans to address the effects of tariffs on their operations. There is urgency among clients to take immediate action in response to tariff-related challenges. Contact reporters for tips on the consulting industry’s response to Trump’s tariffs.
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