Archive · 29 Dec 2025
Bank of America CEO Predicts Tariff De-Escalation
Brian Moynihan, the CEO of Bank of America, thinks that the Trump administration will start to lower tariffs in 2026.
He said that the average tariff rate will be around 15%, which is not a big change from the current 10%.
He also mentioned that China and North American trading partners are different cases.
Higher tariffs and uncertainty have affected small businesses, but they are more worried about finding workers due to immigration policies.
Moynihan believes that the end of tariff increases is in sight for most countries.
Bank of America CEO Brian Moynihan expects the Trump administration to de-escalate trade tensions in 2026.
Average tariff rate is predicted to be 15%, up from the current 10%.
China and North American trading partners are exceptions to the broad de-escalation trend.
Higher tariffs and uncertainty impacted small businesses in Q2 2025, with some relief as rates eased.
Small businesses are now more concerned about labor availability due to unsettled immigration policies.
- Who
- Brian Moynihan, CEO of Bank of America
- What
- Prediction of tariff de-escalation by the Trump administration
- When
- Interview taped in December, aired on December 31, 2025
- Where
- CBS News' Face the Nation
- Why
- To discuss the impact of tariffs on the US economy and small businesses
- CEO
- Brian Moynihan
- Company
- Bank of America
- Current Tariff Rate
- 15%
- Previous Tariff Rate
- 10%
- Impact on Small Businesses
- Higher tariffs and uncertainty affected small businesses in Q2 2025
- Main Concern for Small Businesses
- Labor availability and immigration policies
- China's Status
- Different question, not part of broad de-escalation
- USMCA Review
- Scheduled for next year
