Business Clients Can Absorb a 10 Percent Tariff: Citigroup CEO

Most of the financial world is taking a wait and see approach as the United States seeks a realignment in global trade rules.

A pedestrian walks past a Citibank branch in Chicago on Nov. 15, 2023. Scott Olson/Getty Images

The head of one of the world’s largest banks said the company’s business clients have told her that they “can absorb” a 10 percent tariff.

Citigroup CEO Jane Fraser said on May 5 that those same clients have indicated that a 25 percent tariff or higher wouldn’t be as tolerable. Fraser spoke at the Milken Institute’s Global Conference in Los Angeles.