US companies prepare for consequences of Trump’s tariffs

“All CEOs are perplexed with these non -strategic tariff tantrums that are being directed to our nearest allies instead of opponents,” said Jefrey Sonnenfeld, professor at Yale School of Management in New Haven, Connecticut.

Several global companies will publicize their results next week, including Amazon, Ford Motor, Mondelez International and Owens -llinois. They will probably face a flood of questions about how they plan to mitigate these costs.

Reuters contacted several companies, but none of them wanted to make official comments about the tariffs. Several industry associations made comments, although some were more critical than others.

The US Steelworkers Union, North America’s largest industrial union, criticized Trump’s tariffs over Canada, citing about $ 1.3 trillion in trade between the two countries.

“These rates are not only harming Canada. They threaten the stability of industries on both sides of the border,” Union President David McCall said in a statement.

Car manufacturers, such as General Motors and Toyota, could transfer the production of foreign factories to the United States, while companies such as Alcoa aluminum global giant suggested redirect remittances to reduce tariff load.