Bank of America Corp. CEO Brian Moynihan anticipates trade tensions will de-escalate in the upcoming year. Moynihan stated the bank foresees an average tariff rate of 15% for most countries. He suggested this 15% rate would not have a huge economic impact.
Moynihan noted that while higher tariffs and trade policy uncertainty affected small businesses earlier in 2025, their primary concern has now shifted to the availability of labor.
He distinguished the broader global trade situation from specific, ongoing questions regarding China and North American trade partners. The interview aired on CBS News' 'Face the Nation' on December 28, 2025, having been taped earlier that month.