Corporate chaos is sweeping across the globe, with companies from major automakers to logistics firms reeling from President Trump’s trade policies. In the first two weeks of Q1 earnings season, more than 40 firms worldwide have either pulled or cut their forward guidance due to uncertainty caused by tariffs.
General Motors (GM) and Volvo Cars have ditched their annual guidance for 2023, citing concerns about the impact of escalating trade tensions. The automotive giant Porsche took a hit of at least €100 million in revenue during April and May.
UPS has announced plans to cut approximately 20,000 jobs, with many considering this to be the largest job losses in US history. The company cited the significant potential disruption to trade as a major factor behind its decision.
Electrolux reported weaker consumer sentiment, highlighting the broader impact of tariffs on industries beyond just automotive and logistics. With corporate uncertainty at an all-time high, investors are left to navigate the complex landscape of global trade policies.
Source: https://www.reuters.com/business/finance/profit-warnings-uncertainty-trump-tariffs-send-chill-through-businesses-2025-04-29