Tariffs Prompt Caution, But Ad Giant Havas Sees Stable Ad Budgets.

Havas reports no client ad pullbacks yet amid tariff uncertainty, though many are in “watch-and-wait” mode. The agency’s North American revenue rose 3.2% in Q1. Meanwhile, MoffettNathanson warns a U.S. recession could cut 2025 ad spending by $45 billion, with…