Hearts & Minds: To weigh in on tariffs or to stay silent?

Journalists are seeking quotes. They’re charged with finding ceos, leaders who will speak about the impact of raised tariffs on their business. It’s tempting to be that person. It’s an opportunity to display true leadership, to be the one speaking up for the company, for the sector, possibly for the entire economy.

That’s how you might see it. If you must, go for it, but do consider. They will already have their favourites, the ones they turn to at moments like this, who are guaranteed to say something. Sometimes, though, the editors can be tired – not them again, is the refrain. The reporters, programme researchers, are told to find someone else. Which is when you or the comms team will get the call.

Please, understand as well they’re not especially bothered who is talking. Virtually anyone of any importance will do. The higher profile the brand, that requires little introduction and relies on exports and imports, the better. But really, they are not so choosy. They are under enormous time pressure and they need words, now.

There’s a world of difference between chatting to colleagues privately and going into print and on air. The journalist is not seeking vagueness. In this case, they wish you to be as forceful in your prediction as possible. Ideally, they’re after numbers – in likely price rises and even threatened job losses.

You may suppose you’re talking generally but where your stakeholders are concerned, you’re not. They’re picking up on every word, every nuance. It’s bound to lead to more expensive goods, likely there will be cost cuts, tough decisions will be made, it’s bad news. They see and hear that as you relating the customs charges and a looming trade war to them. You’re dealing with the national press but the regionals, where you have branches, will be on to it in a flash. Likewise, you could easily go viral and international.

Be honest: do you know what will happen? Assumptions are easily made. We’re into what a US Defence Secretary once called the ‘unknown unknowns’. No one can voice with any certainty what the future holds, what Donald Trump will do next, where a trade war could end. Yet you’re being asked to be that one.

No, the best advice is to politely refuse. It’s too early to tell. Let others do it if they wish.  Refer to the trade association it’s what they’re for. They give you cover.

Chris Blackhurst is one of the UK’s foremost business journalists. He was previously Editor of The Independent and City Editor of the Evening Standard.