Concerns regarding tariffs imposed by U.S. President Donald Trump are increasingly affecting corporate sentiment, particularly among Chinese manufacturers. Recent analyses of earnings calls reveal that executives are expressing anxiety over the potential impact of these tariffs on their businesses. Companies are now contemplating how to factor these tariffs into their earnings guidance. In response to the tariffs, Chinese manufacturers are reportedly accelerating efforts to shift production to Southeast Asia to mitigate the financial strain. This trend has been highlighted in various earnings calls, where analysts have raised questions about companies' preparations for the tariffs. The situation underscores a growing unease in the corporate sector regarding the new U.S. administration's trade policies.