Discussing Trump and tariffs in business - should your firm weigh in?

In the construction industry (as well as real estate / CRE + development), it’s inevitable that the topic of tariffs will arise, either with clients or within social settings like networking events. These days, politics are all around us, and while it used to be kosher to say “No religion, no politics”, it’s getting harder and harder to not respond in some fashion - especially since the current policies of the Trump administration and raw materials pricing have very real impacts on the A/E/C industries. 

This begs the question: should you have an opinion, one way or another? The simple answer is yes. The more complex answer is yes, but be really good at making a little sound like a lot. 

There’s an art form to discussing politics in a way that doesn’t ruffle feathers and makes you seem like an informed participant in the global economy. You don’t want to be someone who just spits back party lines about tariffs “Getting us back to putting America in the driver’s seat!” or the other way around, “This is going to destroy the very bedrock of our nation!” No one wants to hear either of those because the truth of the matter is that most people in the business world want to keep a low profile. They don’t want to be pegged as being on one side or the other.

However, everyone likes an expert. Everyone finds it easier to be around someone who recites good data. And you can do this all day long without ever making a solitary point about which side you may or may not be on. Just knowing current steel prices could make you an excellent dinner companion. 

We offer consulting services on how to do this expertly, but some easy ways you can participate in these discussions without outing yourself include the following:

• Learn what your state’s biggest expense is from an importing standpoint. What building supplies are coming from overseas or over borders? Will the prices spike dramatically or stay the same? How will tariffs impact sustainable building materials? Knowing what these are, and affirming that yes, prices will go up or no, the prices aren’t expected to change allow you to stay perfect neutral while being highly relevant to the discussion.

• Call your local economic development corporation and ask them what they’d say. These outfits are generally neutral about everything unless industry is truly being railroaded, and they are there to serve the needs of the business community. It’s like an encyclopedia for local economic issues and calling them up before attending an event where your brain might be picked is a conversation worth having.

• Ask a consultant to give you talking points. It’s like phoning a friend on Who Wants to be a Millionaire except you don’t have to do it in front of a live studio audience. That means that if you hire a firm like Pedigree (ahem), you can pick our brains for advice and we’ll give you the cheat sheet needed to get through your meeting without becoming political roadkill. In addition, a consultant like Pedigree can recommend specific government affairs strategies for meeting with and maintaining positive relations with key government contacts and agencies.

The biggest takeaway from this, discussing topics like Trump and or tariffs in business, is you don’t have to stand for one side or the other. You simply have to know enough to come off as an expert, which potential clients will appreciate far more than whether you are willing to back a single dog in the hunt. Look smart, act smart, talk smart, but don’t get caught up the firestorms that erupt among the under-informed in PTA meetings and town halls daily.