Citibank CEO Jane Fraser: Companies cannot afford tariffs above 10%

Citigroup CEO Jane Fraser said on Monday that most of the bank's commercial clients can absorb the 10% tariffs imposed by the United States on its trading partners, but she warned that companies are maintaining a cautious attitude towards investment and hiring until the economic situation becomes clearer. Fraser said at the Milken Institute Global Conference in Los Angeles, "If it's 10%, most of the clients we talk to say, 'Yes, we can handle that. If it's 25%, not so much." "Most companies are in a state of uncertainty... Some have suspended investment expenditures, and decisions regarding capital expenditures and hiring have been put on hold. This will have an impact on demand and the economy."