Corporate Giants Grappling with US Trade Policy Turmoil

The U.S. trade policy under President Trump is causing significant upheaval in the corporate world, with companies like UPS and General Motors making substantial cuts and revising their forecasts. As businesses grapple with the uncertainty of tariffs, consumer and business sentiments are declining, impacting economic growth predictions.

Major companies are feeling the strain as President Trump's trade policy continues to send shockwaves across the corporate landscape. UPS plans to ax 20,000 jobs, while General Motors has postponed its investor call due to potential shifts in trade strategy, highlighting the extent of the disruption.

In recent weeks, around 40 companies have adjusted their financial outlooks, revealing the deep impact of the unpredictable trade environment. Electrolux CEO Yannick Fierling expressed skepticism about predicting tariff outcomes, echoing the sentiment of many industry leaders.

The White House's tariff policies have notably affected the economy, with GDP forecasts falling and consumer confidence hitting lows akin to the COVID era. As the administration attempts to address these issues, executives warn that reversing the damage will not be an easy feat.

(With inputs from agencies.)