US tariffs lead companies to save cash by rejecting invoices
Global businesses rejected two million more invoices in the first three months of the year than in the same period last year, as companies scrambled to stockpile cash and delayed paying their suppliers under the threat of a tariff war.
In the first quarter of 2025, 2.9 million invoices were rejected, up from about 750,000 over the same period last year, according to Basware, an invoice processing business. Payment delays for suppliers rose to the highest level since the pandemic, which Basware linked to the imminent announcement of tariffs by President Trump on April 2, demonstrating the effect of the proposed levies on global supply chains.
Of the more than 270 million invoices monitored by Basware, close to 7 per cent were rejected between January
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