75% of CFOs Shift Strategy as Tariffs Reshape 2026 Plans

A new PYMNTS Intelligence report shows that tariffs are no longer a temporary policy shift. They are now a structural force shaping how America’s middle-market CFOs rethink investment, budgeting and growth plans for 2026.

“Revising the Roadmap: How Tariffs Are Transforming CFOs’ Strategic Planning” analyzes how 60 CFOs are recalibrating strategies as trade policy uncertainty intersects with slowing demand and operational strain.

The report finds that middle-market firms are splitting into two clear camps. Goods firms are trimming investment and reassessing supply chains. Services firms are moving ahead with technology and talent upgrades. This divergence is reshaping how companies allocate capital and gauge risk.

Nearly 3 in 4 CFOs have changed their investment strategy this year.

Goods firms are 46% more likely than services firms to adopt a cautious stance.

Thirty-four percent of firms facing considerable tariff impact have canceled planned investments.

The report suggests that these shifts reflect something deeper than a reaction to tariffs. CFOs are using the moment to redefine their operating models. Many are developing alternative supplier networks or reassessing where capital can be most productive.

Some are taking advantage of weaker competitors by accelerating internal investment. Others are freezing discretionary spending until they gain more clarity on inflation, trade policy and demand.

These moves illustrate that tariffs function less as an external shock and more as a filter through which CFOs reassess resilience.

Goods firms, which rely more heavily on imported inputs, are feeling this pressure first. Many now cite customer demand shifts and market volatility as primary motivators for their strategy changes. Services firms, by contrast, are using the turbulence to strengthen their digital infrastructure and labor pipelines. This difference defines the middle-market landscape. It also sets the stage for competitive realignment in 2026.

CFOs are integrating tariff exposure into budgeting at a remarkable rate. More than 8 in 10 firms say tariff effects are at least moderately embedded in their planning. Nearly 4 in 10 say they are deeply integrated. That level of incorporation shows how trade policy has become a baseline input rather than an anomaly. It also underscores how firms are preparing for further shifts in sourcing, pricing and customer demand. The shift is measurable. It is also durable.

The report finds that the most exposed firms now have the most conservative postures. Half of CFOs expecting negative tariff impacts describe their strategies as cautious. That share is more than four times the share among firms less affected. These firms are delaying or cancelling capital projects at elevated rates. They are also more likely to adjust supply chain structures in anticipation of further cost volatility.

Other findings in the report show how deeply this transition runs. Goods-sector CFOs cite supply chain adjustments at nearly twice the rate of services peers. Services firms cite workforce strategy and technology investment as areas most affected by tariffs.

The shutdown-related drop in government spending adds near-term unpredictability. Consumer sentiment remains fragile. Executives are watching how unpaid federal workers may influence spending patterns. The combined effect is a strategic environment shaped by both long-term and short-term pressures.

The PYMNTS Intelligence data shows that tariffs have become a central variable in corporate planning. CFOs are adapting in real time. The year ahead will test which strategies endure.