Top American brands say the trade war is now eating into their profits

[riversedge]

Source: washpost





by Rachel Siegel and Hamza Shaban July 25 at 3:57 PM Email the author

Some of the largest companies in America are reporting that they are suffering the sting of the Trump administration’s trade war, sounding alarm in an otherwise prosperous economy.

Midway through the corporate earnings season, companies across a broad array of industries are citing tariffs, particularly those imposed on aluminum and steel, as the culprit for lower profits, higher prices for consumers and even sweeping changes in their planning and operations, such as moving production out of China.

Goods as varied as whiskey and My Little Pony, washing machines and Maseratis are caught in the crossfire of a trade war that has brewed for months. Since March, Trump has levied tariffs on hundreds of billions of dollars of steel and aluminum imports from China, Canada, Mexico, the European Union, Japan and other nations. He is also threatening to impose tariffs on cars and uranium.


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Harley-Davidson also plans to shift operations overseas. The company that prides itself in its made in the USA brand has plants in operation in Australia, Brazil and India. It had already planned to open a facility in Thailand and says moving production out of the United States will soften the blow of E.U. tariffs. .....................................

Read more: https://www.washingtonpost.com/business/2018/07/25/top-american-brands-say-trade-war-is-now-eating-into-their-profits/?utm_term=.a65cc4f6a2ce

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Whirlpool is one of a handful of American companies that say they have been negatively impacted by Trump's trade war. REUTERS/Aaron Josefczyk/File Photo (Aaron Josefczyk/Reuters)

[Initech]

1. They voted for this!

[jpak]

2. But...but...but.. Trade Wars are easy!

And Big Tax Cut!

[randr]

3. Bullshit, the tax cuts will pay for it all

[bucolic_frolic]

4. "I alone can fix it."

Why did he have a fixer if he was a solo act?

[duforsure]

5. trump and putin's

Just showing what they'll do to businesses if they refuse to support and back them now . Businesses will be shaken down like they're trying to do to countries, and then after their kangaroo courts are set up they can then use them to criminalize them with like putin did in russia , and where he stole their businesses, or had the most corrupt running them . They I think are seeing that now, and it'll be interesting what they do . He's doing this to others like the farmers already , setting them up to fail and be bought out by big corporation's in agribusiness. He's undermining the farmers on purpose.

[RandiFan1290]

6. womp womp

[JustABozoOnThisBus]

7. "Top" American Brands?

Trump Inc is doing just fine, thank you.

Well, except for that whole Ivanka line. But except for that, it's great!

[Bengus81]

8. And she "claims" she shut her business down.........

Trumps never lie do they???

[sarcasmo]

9. Corporate Whores wanted the snake, now they don't like the snake.