Trump’s focus on extracting bilateral concessions will do nothing to position U.S. industry to be more competitive in the future. Revenue generated from tariffs is deposited in the U.S. Treasury; it is not used to finance US competitiveness, train workers for the jobs of tomorrow, or support R&D
Trump effect: Abercrombie & Fitch, despite surpassing first-quarter projections for earnings and revenue, according to FactSet, lowered its profit outlook for 2025 and cited a 30% tariff on imports from China and a 10% tariff on all other imports, with an expected $50 million hit to profits.
Target will likely have sales decline throughout 2025, the retailer said after previously projecting a 1% growth, as CEO Brian Cornell & CCO Rick Gomez reportedly blamed weaker spending amid uncertainty about tariffs and backlash to the company’s phasing out of diversity, equity & inclusion efforts
Trump effect: Walmart CEO Doug McMillon told investors the company would “do our best to keep our prices as low as possible,” but warned Walmart was unable to “absorb all the pressure given the reality of narrow retail margins” and that “higher tariffs will result in higher prices.”
Trump Tariffs: Toyota estimated about $1.25 billion in profits was erased in April and March, ciiting the “impact of U.S. tariffs,” as the Japanese automaker forecast a nearly 21% dip in operating income through 2025. share.google/8TT22N8oycVT...