The ongoing trade war between China and the U.S. shows no signs of stopping anytime soon, with President Donald Trump amping up tariff threats at the August 2019 G7 summit. In addition to tariffs against China, Trump has also placed tariffs on imports from the EU, and the EU has retaliated with increased taxes on U.S. imports.
Plenty of U.S. companies hope an accord can be reached that will put an end to the tariffs, which have tacked on tens of billions of dollars to goods going in both directions. While consumers might not be feeling the pinch quite yet, major corporations definitely are.
Some of the largest companies in the U.S. face much higher costs because of the trade war. As margins get hit by higher costs up and down the supply chain, these companies are seeing their bottom lines shrink. This, in turn, sets them up for the difficult decision of either passing those costs along to consumers or taking the hit on their income statements and getting punished by the stock market. Here’s a look at Ford and other American companies that are feeling these tariffs the most.