Tariffs Threat to IPO 2025 Forecast

Stock markets have been cheering the return of president-elect Donald Trump and shrugging off the prospect of tariffs that he's long promised to impose on America's biggest trading partners.

IPO bankers, who for months have been helping companies gear up for what's expected to be a standout year for debuts, have a humble plea for the president-elect: Could he just stay out of the market's way?

Even after a year in which volume has jumped more than 60% versus in 2023, US initial public offerings are still recovering from a streak of interest rate hikes that slammed the door on pandemic-era stimulus and triggered a stock market correction.

While the exact timing for a return to normal is up for debate, all eyes are on 2025, so long as the incoming administration's policies don't throw cold water on it.