Companies withdraw guidance amid Trump's tariffs
Here is a list of companies that have made such moves:
AEROSPACE & DEFENSE
The U.S. carrier on April 9 withdrew its financial forecast for 2025, saying travel demand has "largely stalled" as tariffs fuel economic uncertainty.
FRONTIER GROUP (ULCC.O), opens new tab
The parent of Frontier Airlines withdrew its full-year forecast on April 11 and warned of a loss in the first quarter, as Trump's trade war has hit travel demand.
HEALTHCARE
BELLUSCURA (BELLB.L), opens new tab
The U.S.-headquartered medical device maker on April 8 pulled its guidance for 2025 due to the U.S. tariffs on China.
RETAIL AND CONSUMERS
CHARACTER GROUP (CCT.L), opens new tab
The British toy maker abandoned its annual forecast on April 11, saying it expected the tariff effects on China to be felt in the second half of 2025.
The British spirits maker withdrew its medium-term organic sales growth forecast on February 4, acknowledging a prolonged downturn in demand and uncertainty over tariffs.
The risk of U.S. tariffs on Mexico and Canada from March added "further complexity" around the guidance and threatened $200 million worth of operating profit in the second half, company executives said.
LOGITECH (LOGN.S), opens new tab
The Swiss-American computer parts maker pulled back its 2026 forecast on April 10, citing continued uncertainty stemming from Trump's trade policies. It maintained its 2025 sales forecast.
OTHER
PAGEGROUP (PAGE.L), opens new tab
The British recruiter did not issue a financial forecast in its quarterly statement on April 9 amid "increasingly unpredictable" conditions.
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17 minutes ago
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Investors react to US-Russia summit reaching no deal
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The Guardian
29 minutes ago
- The Guardian
Republicans who backed Trump's anti-environment bill have accepted over $105m from big oil
The Republican lawmakers who voted for Donald Trump's anti-environment tax and spending bill have accepted more than $105m in political donations from the fossil fuel industry, a new analysis has found, raising concerns about their relationship with big oil. Signed into law last month, the One Big Beautiful Bill Act includes billions of dollars in giveaways to oil and gas companies and their executives, alongside provisions to scale back credits for clean vehicles, wind and solar which were enshrined by Joe Biden's Inflation Reduction Act (IRA). All but two GOP House members voted to support the budget bill, as did all but three GOP senators. That includes many Republicans from districts who benefited most from the IRA's green credits, and those who spent months attempting to defend renewable energy tax credits from the budget bill's provisions, such as Representative Andrew Garbarino of New York and Senators Lisa Murkowski of Alaska and John Curtis of Utah. The new report from the environmental advocacy group Climate Power totalled up the funds the bill's backers have accepted from the fossil fuel industry over the course of their political careers, finding that House members accepted $54.4m and senators accepted $51.5m. 'These Republicans in Congress are caught red-handed taking massive donations from the oil and gas industry, and voting to give them billions and to destroy their competition from their own state's clean energy industries,' the analysis says. With House midterm elections scheduled for next year, Climate Power also looked at fossil fuel donations to the 15 House Republicans deemed most vulnerable to an electoral challenge, according to the Cook Political Report, which independently analyzes the political viability of elections and campaigns. All 15 backed the mega-bill, and together, they accepted more than $3m in donations from the fossil fuel industry, the authors found. Hailing from Colorado, Iowa, Arizona, New Jersey, California, Michigan and New York, the lawmakers on the list are from regions that have seen benefits from the IRA's credits for wind and solar energy, as well as battery manufacturing. The mega-bill puts more than 110,000 jobs from the three sectors at risk in the 15 lawmakers' districts, and is also expected to raise consumers' energy bills by up to $200 annually by 2030, according to the climate policy thinktank Energy Innovation. Some on the list had previously critiqued the bill: Congresswoman Mariannette Miller-Meeks of Iowa, who has accepted $229,179 in oil and gas contributions, pledged to support clean energy tax credits but backed the legislation anyway, while Colorado's Jeff Hurd, pledged to oppose the bill due to its cuts to Medicaid but ended up supporting it. 'These Republican members of Congress all represent moderate swing districts with close elections, where voters of both parties expect their representatives to look out for them, not to kill their jobs and raise their utility bills for the sake of out-of-state special interests,' said Pete Jones, a director at Climate Power. 'These members chose who to stand up for, and they picked their billionaire donors.' Big oil spent a stunning $445m throughout the last election cycle to influence Trump and Congress, Climate Power found in January. The industry also poured more than $19m into Trump's inaugural fund, accounting for nearly 8% of all donations it raised, a report found last month. 'We will be a rich nation again, and it is that liquid gold under our feet that will help to do it,' Trump said in his inaugural address. Since re-entering the White House, Trump has passed not only the anti-environmental One Big Beautiful Bill Act, but has also signed a slew of executive orders and policies aimed at cracking down on clean energy and boosting already-booming oil and gas.
Reuters
an hour ago
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US Commerce Dept. widens products subject to steel, aluminum tariffs
Aug 15 (Reuters) - The Trump administration on Friday widened the reach of its 50% tariffs on steel and aluminum imports by adding hundreds of derivative products to the list of goods subject to the levies. In a Federal Register notice late on Friday, the Commerce Department said the Bureau of Industry and Security was adding 407 product codes to the Harmonized Tariff Schedule of the United States that identify the goods to be hit with the additional duties on the steel and aluminum content of those products. The non-steel and non-aluminum content will be subject to the tariff rates President Donald Trump has imposed on the goods originating from specific countries, the notice said. The levies on the goods on the expanded list go into effect on August 18. Earlier on Friday, Trump told reporters aboard Air Force One as he headed to a meeting with Russian President Vladimir Putin in Alaska that he planned additional announcements on steel tariffs and on levies for semiconductor imports.
