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The best executives of well -known American firms warn about the influence that tariffs on their companies and a wider economy.
Intel technological giant, Skechers shoe and consumer & Gamble consumer firm, or reduced their profits, or withdrew them with reference to economic uncertainty.
US President Donald Trump is trying to balance the relationship with key trading partners using steep tariffs to bring them to the negotiating table.
No new trade agreements between the US and other countries have yet been announced, but there were signs of progress in the negotiations with South Korea.
“Fluid policy itself in the US and abroad, as well as regulatory risk increased the likelihood of an economic slowdown,” said Intel Zinner CEO during call with investors.
“We will definitely see that the costs are increasing,” he added, when the firm based in California announced the gloomy projections of profits and profits.
After these comments, the Intel shares decreased by more than 5%.
In addition to the technology industry, the Skechers shoe manufacturer also disappointed investors. The firm saw that his actions had fallen after it had withdrawn the annual outlook.
“The current environment is just too dynamic, from which you can plan the results with reasonable confidence in success,” said Skechers Chief Operational Director David Weinberg, an investor by calling after his arrival.
Skechers – like Nike rivals, Adidas and Puma – use factories in Asia, especially in China, to make their products.
Comments of Procter & Gamble (P&G) managers also hinted at how tariffs can mean higher prices for their customers.
The creator of Ariel, Head & Neaakers and Gillette said she was considering changes in her prices to replenish the additional costs for materials obtained from China and other places. He also stated that the sales will be increased this year less than previously forecast.
“We will look for all the opportunities to mitigate the impact,” said Andre Schulten, the financial chief of the P&G, adding that there will be adjustments to “some level of consumer prices”.
They join the growing list of companies around the world that warned about the influence of Trump’s trade policy.
Meanwhile, there were signs of what talks on Thursday between the US and South Korean officials in Washington aimed at deleting tariffs were positive.
US Treasury Secretary Scott Igent said both sides had a “very successful” meeting.
“We can move faster than I thought, and we will speak technical terms next week,” he told reporters after the meeting.
The South Korean Industry Minister of the Academy of Sciences of Academy of Sciences, who also participated in the negotiations, repeated the optimism of the infant and added that they were working on a “July package”.
A 90-day pause on higher tariffs affecting dozens of countries will end on July 8.
Trump said more than 70 countries have applied to start negotiations from the date of announcement of tariffs.
