U.S. President Donald Trump’s trade war has cost companies more than $34 billion in lost sales and higher costs, according to a Reuters analysis of corporate disclosures, a toll that is expected to rise as ongoing uncertainty over tariffs paralyzes decision making at some of the world’s largest companies.
Across the United States, Asia and Europe, companies including Apple, Ford, Porsche and Sony have pulled or slashed their profit forecasts, and an overwhelming majority say the erratic nature of Trump’s trade policies has made it impossible to accurately estimate costs. Reuters reviewed company statements, regulatory filings, as well as conference and media call transcripts to pull together for the first time a snapshot of the tariff cost so far for global businesses.
The $33 billion is a sum of estimates from 32 companies in the S&P 500, three companies from Europe’s STOXX 600 and 21 companies in Japan’s Nikkei 225 indices. Economists say the cost to businesses will likely be multiple times what companies have so far disclosed.
