Nearly half of large U.S. companies plan to pass tariff-related costs on to customers in 2025, according to a new survey by pricing software firm Zilliant.

The Business Tariff Impact Survey, which polled 400 senior executives at companies with more than $250 million in revenue, found that 44% of respondents expect to raise prices due to tariff expenses. Another 42% reported shifting suppliers or sourcing regions in response to changing trade policies, signaling a significant supply chain realignment.

“Businesses continue to face difficult decisions about how to manage changing cost structures, but the past five years of disruptions and inflation have helped prepare them for this moment,” said Pascal Yammine, CEO of Zilliant.

Tariffs were cited as the top pricing challenge by 23% of executives, second only to competitive pricing pressures, which led for 33%. Looking ahead 12 to 24 months, 27% of respondents said they are most concerned about competitive price wars, with an equal percentage pointing to tariff and trade uncertainty.

Despite the challenges, 87% of executives said they remain optimistic about maintaining profitability, and 83% said they are already using AI-driven pricing technology to adapt to economic volatility.

The survey also found that pricing decisions are increasingly being made at the top. Among chief commercial officers surveyed, 87% said they are the primary decision-makers on pricing strategy, while 68% of CEOs said the same. A majority — 56% — said the CEO should have the final say.

Zilliant plans to release the full report next week, including industry-specific trends and strategic recommendations. The survey was conducted by Censuswide from March 31 to April 2, 2025.