The largest consumer conglomerates are cutting their financial forecasts for the year, predicting lower sales and profits than before. That includes Pepsi (which also owns Frito-Lay and Quaker Oats), Kimberly-Clark (which makes Kleenex, Huggies and Scott toilet paper) and Procter & Gamble (which makes Tide, Pampers and Charmin).
This is the first wave of corporate earnings reports since President Trump imposed 145% tariffs on Chinese goods and a 10% tariff on all global imports earlier this month. A 25% tariff on imported aluminum also affects companies that need a lot of cans or foils.
Until recently, most consumer giants stuck to the word “uncertainty” to describe the future. Now, they’ve begun offering more specifics.
Kimberly-Clark estimates that the trade war will add $300 million in new costs for the company. Procter & Gamble warned it may raise prices to offset new expenses. Chipotle saw anxious shoppers cut back on burrito bowls.
Should’ve voted for Harris. We wouldn’t have had any of these problems had we elected a Democrat. This shit literally only happens when you elect republicans.
Shouldn’t have backed trump, then. It wasn’t like analysts didn’t predict what trump would do to the market.
Fixed title… “Worried about their profits”.
US shoppers are worried about big business. But not in the way the execs think
Add tariffs on junk food like soda and other shit. Suddenly people buy water instead.
We’ve already made junk food great again by producing it stateside. Instead of an import tax we’d need a sales or vice tax of some sort.
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