New report finds widespread gaps in crisis response planning.

Business leaders have sounded alarm over their preparedness for the risks associated with the US' trade tariffs, with fewer than one in three confident they have the capabilities to manage the fallout from recent measures imposed by President Donald Trump.

The research, conducted by communications consultancy Sandpiper, found that 38% of business leaders in ASEAN countries and 21% in China say they are "not well prepared" to manage trade conflict risks.

According to the survey, 43% rate the business risk from the US-China trade dispute at eight or higher on a 10-point scale. More than half expect these risks to increase over the next two years, some as soon as within six months.  

The report identifies key crisis-response tools as geopolitical risk assessment frameworks, realistic scenario planning and strong relationships with policymakers. Sandpiper's Simon Buckby called the lack of preparedness "shocking".

"This is a huge challenge for leaders, and especially corporate affairs teams, to step up and protect their firms," he added.

The survey included over 3,000 respondents across 27 markets.