Trump’s tariffs cost companies USD34 billion
(MENAFN) Multinational corporations have incurred a combined $34 billion in losses due to U.S. President Donald Trump’s renewed tariff policies, according to a Reuters analysis. The sweeping trade measures have disrupted global supply chains and heightened tensions with key allies, particularly the European Union.
The report, which analyzed financial disclosures from 56 companies across the U.S., Europe, and Japan, attributed the losses to increased input costs, lost revenues, and overall uncertainty in global trade. Economists caution that the true impact may be far greater, citing knock-on effects such as reduced investment, lower consumer spending, and inflationary pressures.
Since his return to office in January, Trump has reimposed extensive tariffs aimed at bolstering U.S. manufacturing. These culminated in the April 2 “Liberation Day” tariffs, which placed a blanket 10% duty on all imports and threatened 50% tariffs specifically targeting EU goods.
Despite the White House’s insistence that global trading partners will bear the cost, data suggests American businesses are primarily absorbing the financial burden. In response, the EU has drafted counter-tariffs on €100 billion worth of U.S. goods, including autos, plastics, and medical products. A phone call between Trump and European Commission President Ursula von der Leyen led to a postponement of the 50% tariff threat until July 9 to allow for negotiations.
Major companies such as Apple, Ford, Kimberly-Clark, and Walmart have voiced concerns over rising operational costs and have revised their earnings forecasts downward, criticizing the administration’s unpredictable trade tactics. General Motors stands out as one of the few supporters, arguing that auto tariffs level the playing field for U.S. manufacturers.
Trump continues to defend the tariff strategy as a tool for reshoring jobs and slashing trade deficits. “We’re going to raise hundreds of billions in tariffs; we’re going to become so rich we’re not going to know where to spend that money,” he said in March.
According to the Tax Foundation, the current and planned tariffs are expected to generate $152.7 billion in federal revenue by 2025—equivalent to 0.49% of GDP—marking the largest tax hike since 1993.
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