HarbourVest managing director Scott Voss says the fallout from the latest round of US tariffs is less severe than initially feared, but warns the broader impact on global growth remains unclear. This perspective comes after the US increased tariffs on key trading partners. The announcement coincided with a rise in US inflation during June, as tariffs pushed up the cost of imported goods, reinforcing expectations that building price pressures will likely delay interest rate cuts until at least October. HarbourVest is a global private equity firm that provides investment opportunities in primary fund investments, secondary investments, and direct co-investments. The firm seeks to generate attractive returns and build long-term relationships with its investors.
Voss noted that current market conditions appear to align with expectations. “This feels like this is where the markets expected us to be,” Voss said. “Not everybody’s probably happy with the deal, but we’ve landed in a better place with what we know today than kind of where we started from.” His comments suggest a measured optimism despite the ongoing trade tensions and inflationary pressures impacting the US economy.
However, Voss highlighted that the central question revolves around whether tariffs will impede global economic momentum. “The bigger impact will be global economies. Is there a global economic slowdown? Is there a global recession that’s related to tariff policy? And we’ll have to keep a close eye on that,” he stated. The potential for a broader economic downturn linked to tariff policies remains a key concern for HarbourVest.
These remarks underscore the intricate balance between managing immediate tariff repercussions and monitoring the potential for long-term global economic shifts. The situation requires careful assessment to navigate potential risks and opportunities in the evolving economic landscape.
