The frequency of the term 'tariffs' being mentioned in $SPX earnings calls has decreased for the third consecutive quarter. FactSet posted on X that this trend indicates a shift in focus among companies during their earnings discussions. The reduction in mentions suggests that tariffs may be becoming less of a concern for businesses, potentially due to changes in trade policies or adjustments in corporate strategies. This decline in tariff-related discussions could reflect broader economic adjustments or a stabilization in trade relations. The ongoing trend will be closely monitored in future earnings reports to assess its impact on corporate performance and market dynamics.