Around half of companies have now reported the 4Q earnings and held analyst conference calls. The proportion of firms mentioning tariffs as a topic since the start of 2019 has fallen to 16.4% compared to 20.8% in 4Q and 21.6% in 3Q. That may reflect the established nature of tariffs – despite uncertainties generated by the ongoing U.S.-China trade talks – and is prevalent across five of the six sectors tracked by Panjiva. The outlier was Healthcare where only 5.4% of firms mentioned tariffs. The biggest decline has been in Materials, where steel and aluminum duties have been in place ...