Trump's tariff tally: $34 billion and counting, global companies say

Reuters ^ | May 29, 2025 6:53 PM UTC | Sayantani Ghosh, David Gaffen and Arpan Varghese

[E. Pluribus Unum]

Summary

• Companies face uncertainty, paralyzing decision-making and affecting profit forecasts
• Economists predict final costs will be much higher than disclosed
• Tariffs impact automakers, airlines, and consumer goods importers significantly

SAN FRANCISCO/NEW YORK/BENGALURU, May 29 (Reuters) - 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 (AAPL.O), opens new tab, Ford (F.N), opens new tab, Porsche and Sony (6758.T), opens new tab 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, 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 (.STOXX), opens new tab and 21 companies in Japan's Nikkei 225 (.N225), opens new tab indices. Economists say the cost to businesses will likely be multiple times what companies have so far disclosed.

"You can double or triple your tally and we'd still say ... the magnitude is bound to be far greater than most people realize," said Jeffrey Sonnenfeld, professor at the Yale School of Management.

The ripple effects could be worse, he added, citing the potential for lower spending from consumers and businesses, higher inflation expectations.

While a recent pause in Sino-US trade hostilities has offered some relief and Trump has...

[Bobbyvotes]

If tariffs are bad, why every other country charges tariffs on American products?????

[ProtectOurFreedom]

* $34 billion in lost sales and higher costs
* Over $10,000 billion of committed foreign investment to build factories in the USA and creating millions of jobs.

Looking at immediate short-term lost sales is pathetic. None of the presstitutes looks at the long view.

[napscoordinator]

Fair enough. Let’s get 34 billion to the debt. That is the best place for it. We do not need a 5 thousand dollar check trump says he’s sending us. Put every savings towards the debt.

[ETCM]

* Over $10,000 billion of committed foreign investment to build factories in the USA and creating millions of jobs.

Very little of that is truly “committed”. Maybe 10%, and much of it under the pressure of tariffs. If the courts take away Trump’s authority to levy tariffs, it will all evaporate.

[ProtectOurFreedom]

“If the courts take away Trump’s authority to levy tariffs, it will all evaporate.”

True. Tariffs are the big club.