The Business Council of New York State Membership Survey Shows Early Impacts and Continued Fear Over U.S. Imposed and Retaliatory Tariffs
88% Say Tariffs Have Already Impacted Their Business
Taxes, Regulations & Healthcare Among Ongoing Concerns
ALBANY – More than half of the respondents to The Business Council of New York State, Inc.’s membership survey for the Fall 2025, 53%, said the United States-imposed tariffs and potential retaliatory tariffs continue to be a significant concern for their business. A considerable number — 88% of respondents — said tariffs have already impacted their ability, in some form, to do business as usual.
The Business Council of New York State, Inc., is New York’s statewide chamber of commerce and statewide manufacturing association.
The survey, conducted during September and October of 2025, showed that private-sector employers are still dealing with the current and unknown implications of tariffs.
When asked what the state can do to help private-sector businesses, more than half —52% — said either reduce taxes or reduce regulations. Another 27% said the state could help make healthcare more affordable.
The weight of tariff uncertainty, taxes, and regulations led almost three-quarters (73%) to say they have no plan to expand their business in the next year or two.
“This survey is in line with the ongoing discussions we have been having with our members, that Albany has created an unaffordable, burdensome business climate”, said Heather Mulligan, President & CEO, The Business Council of New York State, Inc. “If state government truly wants a stronger and more affordable economy, it has to listen to the people who build it.”
The survey was sent to more than 1,400 Business Council members.
President’s Summary
Private-sector employers say the cost of healthcare is the most important challenge they face this Fall and the top issue they wish the state government would help them address. While healthcare remains a significant concern, businesses are still dealing with current and unknown implications from tariffs.
TARIFFS
This year has been an uncertain one for businesses as tariffs have been threatened, imposed, scaled back, and reinstated through 2025. With many of our members being in the manufacturing industry and sharing a border with Canada, a majority of our respondents, 53% said they are concerned about tariffs or retaliatory tariffs from other countries where they do business. Almost the same amount, just under half those polled said that tariffs have already raised the costs of doing business, and a quarter said they have disrupted the supply chain. But despite the uncertainty, a majority of businesses say they have not yet taken steps to mitigate the expected costs of tariffs or plan to take steps to mitigate those costs.
HEALTHCARE
The most recent Fall survey showed employers are concerned about the cost of healthcare for their employees. More than 20% said healthcare costs are the most important challenge they face, and the issue was the number one issue businesses wished the state would do to help private sector employers. The survey comes just a few months after President Trump signed the Big Beautiful Bill and after warnings from political leaders and pundits that healthcare costs in New York State would be impacted by the bill.
TAXES & REGULATIONS
34% calling them the most important challenge and 42% saying it’s the one area where state government could help private sector businesses. Employers consistently say the high costs of doing business in New York prevent them from expanding, and this survey was no different, with 73% saying they do not plan expansion in the next year, with 42% saying they expect their business to remain flat over the next six months.
