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Trump tariffs are making it harder for CEOs to run their companies
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Apple's CEO Tim Cook said on a May 1 earnings call that tariffs in the three months starting in June are most likely to add US$900 million to the company's costs.
PHOTO: EPA-EFE
Jeff Sommer
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Corporate America is stumbling in the dark, and so are investors.
Ford and General Motors executives say they can’t estimate what lies ahead. There’s too much fog to even hazard a guess, so both companies have suspended earnings guidance – signals about future sales and profits – leaving investors to navigate on their own. And the carmakers are not the only ones. A broad range of companies, including Delta Air Lines, Southwest Airlines, the footwear company Skechers, UPS and the engine manufacturer Cummins, say they can’t talk confidently about the future.
