Trump’s Tariffs Have Been Good for Consulting Firms – ryan

President Donald Trump‘S Tariffs have Financial Markets, Spurred Consumer Stockpiling, and Force Businesses to Brace for Hits to the Bottom Lines.

While another of Trump’s Efforts, Doge, Has Hurt the Consulting Industry, The Tariffs, Aimed At Narrowing the $ 1.2 Trade Deficit in Goods the US Imported in 2024, have SO FAR SPARED The Services Sector, Leaving Consultanies Large.

That puts say in a unique position to help companies trying to navigate shifting trade dynamics and rising costs. Leaders from McKinsey & Company, Boston Consulting Group, PWC, SIB Consulting, and KPMG Told Business Insider They’re Being Taped More by Both existing and new clients seeing guidance.

Kristin Bohl, A PWC Partner for Customs and International Trade Who Is Leading The Big Four Firm’s Tariff Advisory Work, Told b That Since Trump’s Announcement on April 2, PWC is “Definitely Seeing an Uptick in Demand.”

She Said Tariffs Are a multi-dimensional problem, SO multiple lines of PWC’s Business, Including Finance, Tax, Logistics, Are in Demand, Resulting in a “Double Down or Tripling Down” Interest FROM Clients.

McKinsey & Company Launched a “geopolitics” practice more than a year Ago, Cindy Levy, a senior partner at the firm, Told Bi. “SINCE THEN, WE’VE SEEN INTERVISE FROM BOT LONG-STATING AND NEW CLIENTS-Especilantly Around Scenario Planning, Cross-Functional Response, and Navigating an increasingly uncertain global Environment,” She Said.

McKinsey is Hearing From Companies in Several Sectors, but Most Notably From Those “Highly Exposed to Trade Shifts,” Including Semiconductors, Advanced Manufacturing, Automotive, and Electronics. The firm is Also Seeing “Growing Interest” From Consumer Sectors, which are especilly sensitive to pricing and source, Levy Said.

Rich Lesser, BCG’s Global Chair, Told b qt the firm has haad several “New Conversations” with existting clients. “Trade and Tariffs Were Not a Hot Topic a Year Ago,” He Said.

It”s good timing, in a Way. As part of the Elon Musk-Led Efffort at the White House Doge Office to Cut Costs, Federal Agencies have been asked and justify their spending on consultants.

Several Consulting Firms Earlier Told b That Government Contracts Make Up A Significant Portion of their Incom, Threatetening Their Bottom Line. SO, INCREED DEMAND FROM CURRENT CORPORATE CLIENTS – AND NEW INTERVISION FROM NEW ONES – FOR ADVICE ON NAVIGating Trump’s Trade haen a Needed Win for Consulting Firms.

Lesser Said Clients are Largely Seeking “Insight on How We See This Playing Out.” Howver, The Tariff Discussions have Also Brought “Renewed Energy” to Longer-Standing Questions About Driving Productivity and Adopting He, he added.

SIB, A Consultancy that specializations in cost-reducing, Told bi that it has seen “a noticeable uptick in inbound inches April 2,” Building on the 43% Jump It AFTER TRUM TOKCE.

“This Latest Wave of Interest is Clearly Tied to Tariff-Delled Cost Concerns, As Business Leaders Brace for Price Volatility and Its Ripple Effects their Supply Chains and Local Contracts,” SIB Ceo Coplar Told Bi.

At KPMG, the firm’s National Consulting Operations Lead, Paul Henkoski, Told b That Normal to See an Uptick in Demand when there are a Change of Government, but that the rise had been “Particularly acute” over the last six months. “We’re Seeing Double-Digit Growth in Our Revenue and Bookings in Several Sectors, and Our Pipeline is Up Year Over Year,” Henkoski Said.

Hencoski Said He’s Seen Strong Demand for the Lines of Business that are relevant to tariffs: KPMG’s Tax and Trade Practice, Supply Chain Services, Risk and Regulatory Compliance. “Certainly, any type of economic downTurn COULD AFFECT US, but at the present time, we’ve seen no material impact,” he said.

Businesses Want to Act Now

CLIENTS ARE LARGELY TURNING TO CONSULTING FIRMS FOR GUIDANCE ON HOW TO NAVIGATE The uncetinty expensive in the near term.

BCG’s Clients Want to “Land the 2025 Plans in a Reasonable Way,” Lesser Said. Howver, They’re Also Mindful That is Just “One Leg of a Long-Term Journey.”

While companies are focused on managing immediate Disruptions-From Supply Chain Shocks to Shifts in the Competitive Landscape-Many are Also Reassessing Their Longer-Therm Strategies, Including Investment in Capital and Talent.

“Everybody’s Feeling like this is not a time a time to make Making Big Investments when you don’t know the Environment you’re operating with,” Lesser Said. “THIS STARTS WITH CAPITAL ALLOCATION BUT EXTENS TO HOW MUCH HARING TO DO IN AN UNTERTAIN LANDSCAPE.”

McKinsey’s Levy Said Clients’ Big Concern is Staying Competitive. “We’re Seeing Companies Focus Not Just on Managing Disruption, but Also on Where they Can Play Offensee – Where’s Diversifying Supply Chains, Moving Faster Than Competitors, or Spoting in a Changing Landscape.”

PWC’s Tariff Lead Said There is Demand from Existing Clients Who Already Have Sophistic Custom Strategies, but Need to Work Out How to ADJUST say for the shifting landscape.

Large Companies Are Concerned About Their Investist Strategies, Whether they Can Hire New People, Their Manufacturing Footprint, and How they Can Expand Operations.

Pwc is also Hearing from new businesses who weren’t previously impact by tariffs and lack “The Muscle Memory Around How to be Strategic in this Space,” She Said.

Bohl Said the impact of tariffs coulued be enough to wipe out smaller companies’ ability to keep operating. She Said They Want to Undersand the Impacts and Work Out Potential Strategies.

KPMG’s Henkoski Said His Clients Are “Looking for Calm in the Storm.”

The Strongest Demand Is Coming From The Industrial Manufacturing Sector, where Businesses Need to Find Alternative Sources for Components and Materials, and from the Consumer Retail Sector, where it is all about the product suply chain, he said.

There is “absolutely a desire to take action Now,” Henkoski added.

“Their C-Suite, Their Boards, Their Shareholders are demanding that they have a plan, and so they active digesting the information as it changes single and development a plan of action at the Same time.

SIB’s CEO ALSO TOLD BI THERE IS A SENSE OF URGENCY FROM CLIENTS.

“We’re Seeing a Definite Shift Toward Immediate Action. Most Leaders Recognize that Waiting Could Leave say-especirally if locally already embedding fees-reeds increas into or invoices,” Copeland Said.

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