https://sputnikglobe.com/20250530/billions-of-dollars-burned-trumps-tariffs-hit-global-giants-1122156083.html
Billions Of Dollars Burned: Trump’s Tariffs Hit Global Giants
Billions Of Dollars Burned: Trump’s Tariffs Hit Global Giants
Sputnik International
The $33 billion represents the total estimates from 32 S&P 500 companies, including American, European, and Asian firms. Economists say the cost to businesses will likely be multiple times what companies have so far disclosed.
2025-05-30T06:35+0000
2025-05-30T06:35+0000
2025-05-30T06:35+0000
economy
business
reuters
us
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US tariffs damaged major firms, Reuters research shows. The $33 billion represents the total estimates from 32 S&P 500 companies, including American, European, and Asian firms. Economists say the cost to businesses will likely be multiple times what companies have so far disclosed. What's Next? On April 2, the US president signed an executive order that implemented reciprocal tariffs on imports from various countries. The base tariff rate was established at 10%, with higher rates applied to 57 countries based on the US trade deficit with each specific nation. On April 9, Trump declared that a baseline tariff of 10% would be imposed for 90 days on over 75 countries that had not retaliated and had requested negotiations, except for China.
https://sputnikglobe.com/20250525/trumps-tariff-ultimatum-whichever-side-brussels-picks-europeans-lose-1122127325.html
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the $33 billion represents the total estimates from 32 s&p 500 companies, including american, european, and asian firms. economists say the cost to businesses will likely be multiple times what companies have so far disclosed.
the $33 billion represents the total estimates from 32 s&p 500 companies, including american, european, and asian firms. economists say the cost to businesses will likely be multiple times what companies have so far disclosed.
Billions Of Dollars Burned: Trump’s Tariffs Hit Global Giants
On April 2, Donald Trump signed an executive order that implemented reciprocal tariffs on imports from various countries.
US tariffs damaged major firms, Reuters research shows.
The $33 billion represents the total estimates from 32 S&P 500 companies, including American, European, and Asian firms. Economists say the cost to businesses will likely be multiple times what companies have so far disclosed.
42 companies slashed forecasts, 16 withdrew guidance entirely
Auto & airline sectors hit hardest - supply chains in chaos
1.
More price hikes for consumers
2.
"Near-shoring" push = higher labor costs
3.
Long-term uncertainty paralyzing business decisions
On April 2, the US president signed an executive order that implemented reciprocal tariffs on imports from various countries. The base tariff rate was established at 10%, with higher rates applied to 57 countries based on the US trade deficit with each specific nation. On April 9, Trump declared that a baseline tariff of 10% would be imposed for 90 days on over 75 countries that had not retaliated and had requested negotiations, except for China.
