Texas business execs report more tariff uncertainty

• Many Texas business leaders, including retailers, expect to pass cost increases from tariffs on to customers, per the new Dallas Fed survey.

Flashback: Texas manufacturing activity fell in February in anticipation of Trump's tariffs.

What they did: The Dallas Fed surveys business executives every month about employment and prices. The latest survey includes responses from 356 executives surveyed April 15-23.

• Survey respondents also had the option to share comments anonymously about the impact of tariffs. Many reported feeling uncertain about their business outlooks.

What they're saying: One business leader called the tariff policy "a self-inflected pandemic."

• "I feel the administration has done little to describe what the end game will be and has caused more uncertain[ty] by not explaining honestly what we American businesses will be facing," a food service executive wrote.

The other side: "As we are an American manufacturer, it is positive protection to our business against cheap and low-labor-cost manufacturers around the world," an electronics manufacturer wrote.

Go deeper: How tariffs can cause a recession