Global companies rejected two million more invoices in the first quarter of 2025 than during the same period last year, as growing tariff threats from the United States triggered widespread efforts to conserve cash and renegotiate supplier terms.
According to data reported by The Times, invoice processing firm Basware tracked a dramatic increase in rejections, from roughly 750,000 in early 2024 to 2.9 million between January and March this year. That surge coincided with growing tensions around U.S. trade policy and culminated in the April 2 announcement of new tariffs by President Trump. That represents a 280% Year on Year surge in rejected invoices, using insight from Basware's Invoice Lifecycle Management platform.
Jason Kurtz, CEO of Basware, linked the rise in rejections to the economic uncertainty caused by tariff policy. “The reality is that the U.S. tariff policy is creating huge strains for international trade, hitting business finance teams hard,” he told The Times. “We saw an increase of two million invoice rejections in the first three months of this year alone, suggesting companies are using payment delays as a financial buffer against wider economic uncertainty.”
More information from The Times (paywalled)
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