As US President Donald Trump’s trade war drives up costs, disrupts supply chains, and stokes worries about the global economy, companies in a variety of industries are raising prices, reducing financial guidance, and issuing warnings of increased uncertainty.
Companies worldwide faced a wall of uncertainty in the first quarter, according to earnings announcements released on Thursday, as CEOs had to deal with the Trump administration’s ever-changing trade policies.
Concerns among businesses and investors that Trump’s tariffs and his assaults on Federal Reserve Chair Jerome Powell will undermine confidence on Main Street were further highlighted by remarks made by the largest packaged food, beverage, and consumer products corporations.
After the manufacturer of Pampers revealed plans to raise prices to offset the impact of additional costs from the sweeping tariff war, Procter & Gamble CFO Andre Schulten stated on a media call, “We will have to pull every lever we have in our arsenal to mitigate the impact of tariffs within our cost structure and P&L. Unilever, the manufacturer of Dove soap, and Nestle CEO Laurent Freixe also noted a decline in US consumer confidence.
As investors attempted to sort out the Trump administration’s rapidly shifting declarations on tariffs and the Fed’s (the US central bank) leadership, stocks floated Thursday and a dollar rally sputtered out.
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