Global Firms Incur USD34B Losses Due to Trump Tariffs
(MENAFN) Multinational corporations have incurred losses totaling $34 billion as a direct consequence of tariffs implemented by U.S. President Donald Trump, reveals an analysis by a news agency.
These trade barriers have disrupted operations and escalated diplomatic friction with Washington’s principal allies, especially the European Union.
Drawing on financial disclosures from 56 companies spanning the US, Europe, and Japan, the report links these losses to rising input expenses, declining revenues, and growing uncertainty in supply chains. Economists caution that the actual financial damage may be substantially greater due to secondary impacts such as diminished investments, lower consumer spending, and heightened inflation risks.
Since taking office in January, President Trump has introduced broad tariff measures aimed at protecting American manufacturing. This campaign peaked on April 2, dubbed “Liberation Day,” when a universal 10% tariff on all imports was enacted alongside the threat of a 50% tariff on EU products.
“The Administration has consistently maintained that the United States, as the world’s largest economy, has the leverage to make our trading partners ultimately bear the cost of tariffs,” said White House spokesperson Kush Desai. Yet, evidence points to US companies bearing the brunt, while relations with key allies continue to deteriorate.
In response, the EU devised retaliatory tariffs on €100 billion worth of American goods, targeting sectors such as automobiles, medical equipment, and plastics. Following discussions between Trump and European Commission President Ursula von der Leyen, the planned 50% tariffs were postponed until July 9 to provide space for negotiation.
Major corporations including Apple, Ford, Kimberly-Clark, and Walmart have flagged increasing costs and downgraded earnings forecasts, attributing these challenges to Trump’s “erratic” trade policies, the news agency reports. General Motors remains one of the few defenders, supporting the automotive tariffs as a means to level the playing field for US manufacturers.
Trump stands by his tariff agenda, asserting it will bring jobs back home and shrink the trade deficit. “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 declared in March.
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