Trump signals 50% tariff on Brazil
Digest more
Trump, tariff
Digest more
Automakers might increase prices moving forward, according to a report from the intelligence firm AlixPartners.
But for many foreign companies, the slide in the US dollar has incentivized them to raise their invoice prices to compensate, according to Wells Fargo. And Deutsche Bank’s Saravelos said the pressure on US firms so far to bear tariff costs is another headwind for the greenback, which is already on its worst start to a year since the 1970s.
A threatened 30% tariff on European wines would hurt many U.S. companies while hiking prices at home and in restaurants, industry experts warn.
Companies are rerouting supply chains, sharing costs with suppliers, and, yes, raising their prices.
Puma shares dropped 16% on Friday after the German sportswear brand said it now expects an annual loss as sales decline and U.S. tariffs dent profit.
German auto giant Volkswagen is feeling the effects of President Trump's tariff policy. An EU-US trade deal can't come soon enough for the Wolfsburg-based automaker.
People overseas have so far paid very little for tariffs, with Americans bearing the brunt of the cost, per Deutsche Bank.
BERLIN (Reuters) -Volkswagen reported a 1.3-billion-euro ($1.5-billion) first-half hit from tariffs and cut its full-year sales and profit margin forecasts in the German carmaker's first assessment of the damage from U.S. President Donald Trump's trade war.
Many U.S. companies, including GM, Walmart, and Home Depot, are currently absorbing tariff costs, sacrificing profits to shield consumers from price hikes.
President Donald Trump announced trade deals with Japan, the Philippines, and Indonesia this week. But the needle may not have moved much when it comes to swaying Southeast Asia from China's