Finance
Factbox-How big global companies are dealing with tariff trauma
Published by Global Banking & Finance Review®
Posted on May 29, 2025
5 min readLast updated: January 23, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on May 29, 2025
5 min readLast updated: January 23, 2026
Major global companies are adapting to tariff impacts by adjusting forecasts and strategies, impacting financial planning and supply chains.
(Reuters) -Major companies across the world are laying out plans to tackle the fallout from the Trump administration's trade war, highlighting how rapid tariff changes are deepening uncertainty around financial planning.
An analysis by Reuters showed the impact stretches into billions of dollars. Sector bellwethers have slashed or withdrawn earnings forecasts, cautioned about rising costs, and unveiled strategies to navigate the uncertainty ahead.
Here is a look at how some of the biggest companies in the world have reacted to tariffs over the past few weeks:
Company Country Forecast Changes/ Costs Impact Supply Chain Changes/ Others Comments
Profit Warning Price Changes
Apple United Predicts hit to Q3 gross Warned of $900 million iPhones sold in the Trims share CEO: We have a complex
States margins costs related to tariffs U.S. in Q2 will come buyback program by supply chain. There's
from India; vast $10 billion always risk in the supply
majority of products chain
for markets outside
U.S. will come from
China
Ford United Suspended FY25 guidance; Estimated gross cost of Hiked -- Offsetting $1 billion of
States predicts $1.5 bln impact to tariffs at ~$2.5 billion prices on three of its tariff costs through
FY25 core earnings Mexico-produced models measures including
transporting vehicles from
Mexico to Canada using bond
carriers
General United Cut FY25 profit forecast Tariff exposure expected Working with suppliers Temporarily paused CEO: "Making a commitment
Motors States between $4 billion and $5 to further increase buyback activity that we are going to bring
billion their U.S. content for more production back to
higher levels of this country to build on
compliance with the what we already have."
USMCA trade agreement
Walmart United Withheld Q2 earnings -- To start raising prices Working with CEO: Will do best to keep
States guidance in May due to high cost suppliers to prices as low as possible;
of tariffs substitute unable to absorb all the
tariff-affected pressure given narrow
components retail margins
Toyota Japan Forecast 21% decline in FY25 Estimates 180 billion yen -- Intends to CEO: Over long-term, we'll
profit ($1.25 billion) hit to continue to continue to progress with
April-May results increase dividends local production and
despite tariff development and in
impact short-term we'll work on
optimising operations to
best meet demand.
Honda Japan Forecast a 59% decline in Expects 650 billion yen -- Its plans to build Expect to offset 200
FY25 profit hit to its FY26 operating an EV supply chain billion yen of tariff
profit in Canada to be impact through "recovery
put on hold for efforts"
"approximately two
years"
Delta Air United Withdrew FY25 forecast Forecast Q2 profit below -- To defer aircraft CEO: "Given broad economic
Lines States expectations deliveries that uncertainty around global
face tariffs and trade, growth has largely
slash capacity to stopped."
protect margins
RTX Corp United -- Expects $850 million hit -- -- CEO: Current environment is
States to profit over 2025 clearly very dynamic, but
our company is
well-positioned to perform
operationally
3M United Predicts impact of 20-40 Sees $850 million of Plans to leverage its -- CEO: Have opportunities to
States cents/share on 2025 adjusted potential annualized network to mitigate the shift around network to
profit impact before exemptions tariff costs bring product into China
from other regions that
don't have same sort of
tariff effect
Johnson & United Cuts FY25 adjusted Predicts $400 million -- -- CEO: Tariffs on
Johnson States operational earnings cost hit, primarily in pharmaceuticals can create
forecast medical device business supply chain disruptions;
favorable tax policies
would be more effective in
boosting U.S. manufacturing
capacity
MTU Aero Germany -- Expects impact of tariffs -- -- CEO: U.S. customs policy is
Engines to be in the mid-to-high highly volatile at the
double-digit million moment and its potential
euros range in 2025 impact on the global
aviation industry is hard
to predict right now
Porsche Germany Cut FY25 profit margin and Suffered a hit of at -- -- CFO: Localising production
revenue forecast least 100 million euros in the U.S. made no sense
across April and May at the moment due to
Porsche's low vehicle sales
figures
Mercedes-Benz Germany Withdrew FY25 earnings If tariffs remained in -- "Constructive" CEO: "Clearly Mercedes-Benz
place all year, profit talks with the is a global player ... we
margins would reduce by Trump don't fear competition in
300 bps on cars and 100 administration any direction. But that's
bps on vans over boosting not the environment we're
Mercedes' U.S. operating in."
manufacturing
presence ongoing
Stellantis Netherlands Suspends FY25 guidance -- Calibrating production To reasses capital Company: "Response and
and employment to spending plans mitigation actions will
reduce impacts on between May and continue to be refined as
profitability June and calibrate appropriate."
"production and
employment to
reduce impacts on
profitability".
Volvo Cars Sweden Withdrew earnings guidance -- Need to adapt to a more Announced "cost CEO: Era of "being a global
for FY25 and FY26 regionalised world, and cash action company", having global
including a more plan" worth 18 products and shipping cars
tailored approach for billion Swedish back and forth over the
each region crowns, as well as borders, "seems to be
restructuring of gone".
U.S. operations
(Source: Reuters' stories and company disclosures)
($1 = 143.5700 yen)
(Reporting by Sameer Manekar in Bengaluru; Editing by Devika Syamnath)
Major companies are slashing earnings forecasts, raising prices, and adjusting supply chains to mitigate the effects of tariffs.
Ford predicts a $1.5 billion impact to FY25 core earnings and has estimated gross costs of tariffs at around $2.5 billion.
General Motors has cut its FY25 profit forecast and is working with suppliers to increase U.S. content in their products.
Toyota forecasts a 21% decline in FY25 profit, while Honda expects a 59% decline in its FY26 operating profit due to tariff impacts.
Delta Air Lines has withdrawn its FY25 forecast and is slashing capacity to protect margins amid broad economic uncertainty.
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