UNITED STATES — Although President Donald Trump is hinting at a possible trade deal with China, for now the dispute is seeping into companies’ earnings reports and financial forecasts, reported Money Watch.
Tariffs already imposed and threatened by the White House are heightening inflation worries as companies across industries raise prices on everything from new homes and drills to handbags and autos as they cope with higher costs.
For now, that leaves corporations to deal with the effects of heightened U.S. protectionism on their business.
The impact of rising costs is unmistakable and broad. GM is offering 18,000 U.S. employees a buyout as part of its overall efforts to slash expenses. And Ford earlier in the fall pointed to $1 billion in possible new costs from the metal tariffs. Heavy manufacturers are also raising prices, including United Technologies, which makes Pratt & Whitney jet engines, Otis elevators and Carrier air conditioners.
Read the full article at Money Watch.