Grant Thornton’s latest CFO survey shows finance leaders are showing renewed optimism even as they navigate an environment marked by tariffs, workforce pressures, and evolving tax policy. In the third quarter of 2025, 51% of CFOs reported feeling optimistic, up from 39% in the previous quarter, reflecting a notable rebound in sentiment.
The survey highlighted that CFOs are increasingly turning their attention to tax strategy. Just over half of respondents (54%) said their tax functions fully understand the opportunities presented by the recently enacted One Big Beautiful Bill Act (OBBBA). This finding underscores the complexity of the new law and the importance of embedding tax expertise into broader business decision-making.
Despite the improvement in outlook, challenges remain front of mind. Nearly two-thirds of CFOs (64%) said tariffs are having a negative effect on their businesses, with many citing higher costs and disrupted planning. In response, CFOs are taking concrete steps to protect margins and maintain competitiveness. Their most common strategies include adjusting supply chains (51%), leveraging technology and automation (45%), and raising prices (41%) to offset added costs.
Workforce concerns also featured prominently. About 45% of CFOs indicated that staff reductions may be necessary in the near future, pointing to the difficult balancing act executives face between cost control and long-term growth. At the same time, CFOs expressed greater confidence in areas such as managing costs, strengthening supply chains, and advancing technology initiatives — with many of these categories seeing double-digit gains in confidence compared to the prior quarter.
Taken together, the results paint a picture of finance leaders who are both cautious and forward-looking. While tariffs and shifting regulations present immediate headwinds, CFOs are actively adjusting business strategies, exploring automation, and leaning on tax planning to create stability. The survey suggests that, despite persistent external pressures, optimism is gradually returning as CFOs adapt to changing conditions and position their organizations for the future.