Corporate America is bracing for significant financial repercussions stemming from Trump's trade war, with companies like GM and Apple projecting billions in damage. GM expects a $5 billion hit, while Apple anticipates an increase of $900 million in costs for the current quarter due to tariffs. Notably, companies are responding by adapting their financial forecasts, with many adopting a wait-and-see approach due to ongoing trade discussions and uncertainty. The term 'uncertainty' has become prevalent in corporate financial discussions, underscoring the pervasive fears about future outcomes as tariff implications unfold.
From Apple Inc. to General Motors, corporate America anticipates billions in damages from Trump's trade war, affecting financial projections significantly this year.
Trump's tariffs impose duties as high as 145% on Chinese imports, leading to retaliatory increases from Beijing and a complex corporate financial landscape.
Meta Platforms raised its capital spending projections by up to $7 billion, citing global sourcing costs and expressing uncertainty regarding future trade developments.
Executives have used 'uncertainty' more than 6,000 times during quarterly financial calls, highlighting the increasing concern regarding trade and costs due to tariffs.
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