Tariff turmoil puts a freeze on global M&A dealmaking.

From Wall Street to Israel and Sweden, U.S. President Donald Trump’s new tariffs — and the global equities sell-off they sparked — have rapidly scuttled acquisitions and IPOs.

The additional U.S. tariffs, which range from 10% to 50%, announced on Wednesday sparked fears of a recession and spiraling trade war, reinforced by China’s announcement on Friday of its own new tariffs on U.S. goods and export controls.

Among the deals, Swedish fintech Klarna pulled its IPO, and San Francisco fintech Chime is also delaying its initial offering, according to people familiar with the deals.

A London private equity firm pulled out of buying a European mid-cap tech company at the last minute on Thursday after the tariff news, a person close to the deal said.

StubHub was set as recently as Thursday to start its investor roadshow next week for its already delayed IPO. But by the end of the day, executives decided to push those plans back for at least another week,

Israeli-based financial services company eToro also delayed investor presentations for its IPO on Wall Street from Monday until after April 20 due to market conditions and volatility, according to someone familiar with the deal.

If the trend continues, it could stifle companies’ ability to raise funds and to invest, further slowing economic growth.

Even before Trump’s latest tariff announcement, new U.S. tariffs and worries about trade contributed to a 13% decline in U.S. mergers and acquisitions in the first quarter.

Source: Globalbankingandfinance