Latest news with #Mexico-produced
Yahoo
6 days ago
- Business
- Yahoo
Factbox-How big global companies are dealing with tariff trauma
(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 Sector bellwethers have slashed or withdrawn earnings forecasts, cautioned about rising costs, and unveiled strategies to navigate the uncertainty ahead.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) Sign in to access your portfolio
Yahoo
6 days ago
- Business
- Yahoo
Factbox-How big global companies are dealing with tariff trauma
(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) Sign in to access your portfolio
Miami Herald
21-05-2025
- Automotive
- Miami Herald
New Vehicle Inventory Is Shrinking, 3 Ways Shoppers Are Affected
Recent data from Cox Automotive has revealed that new vehicle inventory declined 7.4% in April compared to March. May began with 2.49 million new cars on dealer lots compared to 2.69 million at the start of April, representing a 10.5% drop. During the start of May, U.S. dealers had an average new vehicle supply lasting 66 days, down 16 days year-over-year and six days from last month. While spring has historically been a catalyst for new vehicle sales, inventories aren't being replenished at their usual rate with lower manufacturing and delivery numbers from some automakers amid tariff uncertainty. These changes in production and delivery figures have caused many automakers to withdraw their financial guidance for 2025. In turn, consumers shopping for a new car face slimmer options, fewer incentives, and higher prices. Automakers are on the verge of introducing 2026 production year vehicles at showrooms, but they're also expected to update their inventory with higher tariff-related pricing. New vehicle sales increased 10.5% year-over-year in April, although this figure rises to 14.9% when you don't account for April 2025 having one more selling day than April 2024, according to J.D. Power. Still, some consumers have been rushing to buy new cars to avoid tariff-induced price increases, so sales rates will likely continue tapering off from April. Mid-April saw a 30-day sales peak, but the month's last two weeks experienced a noticeable decline in purchase rates. The average new vehicle listing price was $48,656 at the end of April, marking an increase of $774, or 1.6%, from $47,882 at the start of the month, and $1,318 (2.8%) from a year earlier. While consumers brace for higher new car prices and are currently shopping with reduced inventories, price increases weren't universal. BMW, Buick, Mitsubishi, and Dodge saw month-over-month price declines, while RAM, Lincoln, and Cadillac represented the most significant monthly cost hikes. Dealers are also giving shoppers fewer incentives for new vehicle purchases. According to Cox Automotive data, new vehicle sales incentives dropped to 6.7% of average transaction prices, down 7% from March. However, some brands have more pre-tariff cars available than others. Toyota and Lexus have the lowest supply at 29 and 25 days, respectively, whereas RAM, Mitsubishi, Infiniti, and Land Rover have inventories exceeding 100 days. Due to tariffs, Ford has already raised prices on its Mexico-produced Bronco Sport, Maverick, and Mustang Mach-E. On Monday, Subaru announced tariff-related price increases for several models. New vehicle shoppers can gain clarity during this turbulent time by understanding inventory figures, as automakers with higher dealer inventories may offer more pre-tariff-priced models. Additionally, knowing which automakers are more reliant on U.S. imports, like Audi, might indicate which companies are most likely to introduce price increases sooner rather than later. Slimmer inventories don't necessarily mean you won't get the model you want, but they may limit your ability to get certain features like specific color combinations. Copyright 2025 The Arena Group, Inc. All Rights Reserved.
Yahoo
16-05-2025
- Automotive
- Yahoo
How Will U.S. Tariffs Impact Prices? Here's What 40+ Brands Are Saying
What's happening to prices? What's happening to inventory? You've got questions, so we built a resource to help you find answers. Will the things I want start getting more expensive? And will I still be able to buy them easily? Between recent changes to American trade policies and our memories of living through a previous massive supply chain shock – i.e., the pandemic, these are natural questions on many of our minds. Unfortunately, no matter how many degrees, followers, or subscribers someone might have, no one can definitively know how every brand and sector of the economy will adapt. Yet there's also no shortage of outlets, influencers, and experts acting like they do. The bright side is that if you know where to look, many companies are directly providing concrete insights into how they're adjusting and responding to new U.S. trade policies in 2025. So we've created a bird' s-eye view of what consumer brands of all shapes and sizes are sharing directly via official statements and company representatives, organized alphabetically by industry. And we're committed to updating it over time as best we can as new information crosses our desk. We hope this simple act of aggregation provides anyone who needs it with a more accurate and tangible understanding of how the price and production of goods may or may not shift for American consumers throughout the rest of 2025 and beyond. Editor's Note: If you are a brand spokesperson and want to add or clarify information on this page for American consumers, please email us at sayhello [at] 5.6.25: According to Reuters, Audi noted in its earnings call that 'Financial implications of import tariffs, particularly in the United States, cannot be conclusively assessed.' The same article notes that though the brand currently doesn't have any factories in the U.S., Audi will decide this year whether to create production capacity in America. 3.7.25: According to an internal memo to dealers obtained by Automotive News, Audi began holding 'all vehicles assembled in Mexico and overseas and delivered to U.S. ports after April 2, when they will be subject to new 25 percent tariffs.' 4.30.25: Reuters reported that Aston Martin CEO Adrian Hallmark informed analysts and reporters, 'We are not going to pass on the full effect or absorb the full effect (of tariffs). It's going to be a mix,' while also noting that the brand had ramped up its production to get more cars into the country before the tariffs started, meaning dealers had enough inventory already in the U.S. to operate through June. 'We are not going to pass on the full effect or absorb the full effect (of tariffs). It's going to be a mix,' Adrian Hallmark, Aston Martin CEO, April 30th, 2025 Ford 5.7.25: A Ford spokesperson speaking to Car and Driver noted that the announced price increases on three of its Mexico-produced models included the brand's 'usual' mid-year pricing changes 'combined with some tariffs we are facing. We have not passed on the full cost of tariffs to our customers.' The same representative also confirmed more minor pricing changes than those announced in the earlier Reuters article, noting 'a $600 price hike for the Bronco Sport Heritage as well as a $700 price hike for the Maverick XLT AWD.' 5.7.25: According to a notice sent to dealers reviewed by Reuters, prices on Ford's Mexico-produced models, including the Mustang Mach-E, Maverick, and Bronco Sport built after May 2nd, will increase by as much as $2,000, depending on the model, after the company's 'From America, For America' pricing program ends on July 4th. 4.30.25: In an interview with CNN's Erin Burnett, Ford CEO Jim Farley announced that the brand would be extending its Employee Pricing For All Program through July 4th. In the same interview, Farley provided deeper context into what Ford was grappling with at the moment. 'There are a lot of ins and outs when it comes to tariffs,' Farley stated. He added, 'We know exactly what the tariff bill would look like for the company; we also know offsets…We're the most American [auto] company, so if there's any company that can manage through these tariffs, it's Ford; we make 80% [of our vehicles] here [in America].' He also noted in the same interview, 'What we don't know is what are the import competitors going to do. Are they going to build ten factories? Are they going to take pricing and pass it on to the customers this summer? You know the stuff we built now is priced, if we announce a price increase now, it'll go into play until July in August. So we have to wait until then to see what our competitors are going to do.' 'The stuff we built now is priced, if we announce a price increase now, it'll go into play until July in August. So we have to wait until then to see what our competitors are going to do.' – Jim Farley, CEO of Ford Motor Company, April 30th, 2025 GM 5.1.25: In an interview with CNN's Erin Burnett, General Motors CEO Mary Barra said GM expected the financial impact of tariffs to be between 4 to 5 billion dollars to the company. She noted, however, 'There are many steps we can take to offset; for instance, we've already added, on an annualized basis, more than 50,000 trucks that can be built in Ft. Wayne, Indiana.' On pricing, Mary stated, 'We believe, and what we provided in our [financial] guidance, is that pricing is going to stay about at the same levels that it is.' However, she later noted, 'We're going to continue to evaluate pricing. Pricing changes in our industry at least monthly, and sometimes more frequently, incentive levels change, etc. So we're going to respond to the market, we're going to stay disciplined, because it's so important that we protect the residuals of our vehicles, because that's important to our customers from a resale value.' 'We're going to continue to evaluate pricing. Pricing changes in our industry at least monthly, and sometimes more frequently, incentive levels change, etc. So we're going to respond to the market, we're going to stay disciplined,' – Mary Barra, CEO of General Motors, May 1, 2025 Jaguar Land Rover 5.3.25: The Times reported that the company resumed shipping cars to the U.S. 4.6.25: In a statement provided to CNBC via email, 'As we work to address the new trading terms with our business partners, we are enacting our planned short-term actions, including a shipment pause in April.' Mercedes-Benz 4.7.25: In a statement issued by Mercedes-Benz to Automotive News and reported on further by Road & Track, the German automaker pledged to absorb the 25% tariff on 2025 model year cars and not increase sticker prices. Porsche 4.29.25: As first reported by Reuters, Porsche finance chief Jochen Breckner said the company does not plan to move production to the U.S. He also added that Porsche had not confirmed price increases yet but would likely make announcements in the future if the tariffs remained. 4.10.25: According to The Wall Street Journal, Porsche rushed cars to America to beat tariffs. The brand noted that its first-quarter results would be impacted by 'higher company-owned inventory shipped to the US to beat the tariff deadline.' Toyota 5.09.25: According to reporting from Quartz, Toyota Chief Financial Officer Yoichi Miyazaki stated as part of the company's briefing that '[Tariff] negotiations are ongoing at the moment, and the government officials are working hard now, so details of tariffs are still moving,' adding ' 'So at this moment, it's very difficult to forecast the future,' 3.31.25: According to Reuters, 'Japanese domestic media' reported that 'the world's biggest automaker does not plan to raise prices for vehicles sold in the United States for the time being, even as…25% tariffs on global automotive imports take effect on April 3.' 'At this moment, it's very difficult to forecast the future' – Yoichi Miyazaki, Chief Financial Officer, Toyota, May 5th, 2025 4.29.25: In a statement concerning its recent first-quarter results, adidas CEO Bjørn Gulden noted that the brand 'had already reduced the China exports to the US to a minimum.' However, he added, 'What is even worse for us is the general increase in US tariffs from all other countries of origin. Since we currently cannot produce almost any of our products in the US, these higher tariffs will eventually cause higher costs for all our products for the US market. Given the uncertainty around the negotiations between the US and the different exporting countries, we do not know what the final tariffs will be. Therefore, we cannot make any 'final' decisions on what to do. Cost increases due to higher tariffs will eventually cause price increases, not only in our sector, but it is currently impossible to quantify these or to conclude what impact this could have on the consumer demand for our products.' 'Since we currently cannot produce almost any of our products in the US, these higher tariffs will eventually cause higher costs for all our products for the US market.' – Bjørn Gulden, Adidas CEO, April 29th, 2025 4.09.25: In a report by Hodinkee, a spokesperson for Audemars Piguet confirmed that after tariffs were announced, the brand established an internal task force focused on 'working on adjustment plans while evaluating all options.' 4.23.25: In an email to customers, Christopher Ward Co-Founder Mike France confirmed the watch brand would pass on a 10% price increase to U.S. customers, which would be clearly labeled at checkout. 'We have applied the additional 10% tariff at the checkout so you can see very clearly the total purchase price of your watch. We know how many of you appreciate this transparency.' 4.17.25: According to reporting from outlets including The Times and The Business of Fashion, Eric du Halgouët, the chief financial officer of Hermès, has stated, 'We are going to fully offset the impact of these new duties by increasing our selling prices in the United States from May 1, across all our business lines.' The group later clarified that this would occur on top of other expected price adjustments between 6 and 7 percent in 2025. 'We are going to fully offset the impact of these new duties by increasing our selling prices in the United States from May 1, across all our business lines.' Eric du Halgouët, Hermès Chief Financial Officer, April, 17, 2025. 4.08.25: As reported by Fox Business and The Wall Street Journal during an earnings call, Levis Strauss CEO Michelle Gass stated that 'as we look at pricing, we do believe that the brand, especially given the health of the brand, that there is pricing power there. But if we do anything, it will be very surgical,' 'As we look at pricing, we do believe that the brand, especially given the health of the brand, that there is pricing power there. But if we do anything, it will be very surgical.' – Michelle Gass, CEO Levi Strauss & Co. 4.16.25: As reported by WatchPro, Swatch Group—which owns a broad portfolio of brands including Omega, Blancpain, Tissot, Longines, and Hamilton—increased its prices for a second time this year. 'There are two main reasons for the price increases,' according to a group representative. 'First, the dramatic change in exchange rates between USD and CHF. The dollar weakened in the last 4 weeks by nearly 8%. Secondly, the introduction of the 10% tariff, instead of the former 3%.' 5.02.25: According to The New York Times, officials from the online mattress company stated they planned to increase mattress prices 'by about 6 percent and other products by an average of 7.5 percent' on Tuesday, May 6th. 4.30.25: The CEO of the brand's parent company, Stanley Black & Decker, announced in the company's 1Q 2025 financial results that it implemented 'an initial price increase in April and notified our customers that further price action is required.' Breville 11.07.24: According to reporting from The Wall Street Journal and The Australian, the Sydney-based global appliance maker acknowledged the risk of increased tariffs on China immediately after the conclusion of the 2025 American Presidential election. During a shareholder annual meeting in November of 2024, Chief Executive Jim Clayton stated, 'We will continue our inventory build in the U.S., unabated, likely until the increased tariffs are enforced.' 5.18.25: Founder Sierra Tishgart shared in an email to customers, stating, 'We can't absorb these unexpected costs without jeopardizing Great Jones. So, starting May 1, we're raising our prices.' She also warned of potential stock issues in the future. 'We can't absorb these unexpected costs without jeopardizing Great Jones. So starting May 1, we're raising our prices….Also, I'm sorry to everyone in the children's reading room at McNally Jackson for cursing loudly upon learning about the tariffs.' – Sierra Tishgart, Co-Founder & CEO of Great Jones May 1, 2025 3.26.25: As reported by Furniture Today, MillerKnoll announced during an earnings call that it would be implementing a 4.5% list price increase starting June 2nd. However, CEO Andi Owen noted that 'we will partner with suppliers, leverage value engineering and available flexibility within our supply chain and manufacturing footprint to offset cost impacts wherever possible.' Chief financial officer Jeff Stutz also noted that the price increase was not solely the result of tariffs. 'It would be wrong to think that the price increase is squarely aimed as a response to tariffs,' he said. 'It's in part that, but I would point out that even domestic U.S. steel prices have run up since the start of the calendar year, and it has been coincident with this tariff conversation. So it's not just the potential cost implications of the tariffs. There are some derivative effects that seem to be having an impact on key input costs like steel, as well as other inflationary pressures.' 'It would be wrong to think that the price increase is squarely aimed as a response to tariffs…It's in part that, but I would point out that even domestic U.S. steel prices have run up since the start of the calendar year, and it has been coincident with this tariff conversation.' Jeff Stutz, Chief Financial Officer of MillerKnoll, March 26, 2025 4.17.25: In an Instagram post shared in mid-April, Room & Board's CEO announced that the company's prices would stay the same through July. 'We will always offer you the best possible value for the quality and service we provide. We will work to minimize price increases and be transparent about any changes' – Bruce Champeau, CEO of Room & Board 5.02.25: Joanna Rosenberg, the chief sales and marketing officer at Zwilling J.A. Henckels, the brand's parent company, went on the record with The New York Times to share that the French-made Dutch ovens would see 'single-digit' price increases, while the firm would be increasing prices for some products in early June. 3.27.25: As reported by Furniture Today, the office and contract furniture maker announced a price increase for inflation as well as a 'tariff recovery charge' in the U.S. market that went into effect on March 27th. Company Chief Financial Officer Dave Sylvester shared on an earnings call that the brand was still waiting to see how the tariff policies would ultimately shake out. 'If we have to take it up, we will consider that, and if we need to take it down, we'll be the first to move quickly to adjust it down,' he said. 'But we cannot absorb costs, and I don't think companies across the industry are going to absorb costs. We leverage a lot of the same suppliers around the world and therefore are exposed to these tariffs.' 'We cannot absorb costs, and I don't think companies across the industry are going to absorb costs. We leverage a lot of the same suppliers around the world and, therefore, are exposed to these tariffs.' Dave Sylvester, Chief Financial Officer of Steelcase 4.15.25: The upscale baby brand announced via a post on its website that 'Due to rising import tariffs, updated pricing will go into effect on May 5th, 2025, across most UPPAbaby products.' The same note added, 'If tariffs are reduced or lifted, we'll reassess pricing as quickly as business operations allow. 'If tariffs are reduced or lifted, we'll reassess pricing as quickly as business operations allow.' Uppababy, in a post to customers on its website on April 15th, 2025 4.29.25: In an email to customers, Cotopaxi CEO Lindsay Shumlas said, 'For now, we're keeping prices steady,' later adding that 'if tariffs hold, our prices may need to increase.' – Screenshot of email via (04.29.25) 'The hard truth? If tariffs hold, our prices may need to increase. While it's always a great time to buy Cotopaxi, you might consider picking up a few wishlist items now or grabbing a gift for a friend.' – Lindsay Shumlas, CEO of Cotopaxi, April 29th, 2025 4.24.25: Helen of Troy Limited, the parent company of Hydro Flask, Braun, Osprey and OXO among others, published a press release covering its Q4 2025 Fiscal results. The release states that the company 'has intensified efforts to diversify its production outside of China into regions where it expects tariffs or overall costs to be lower and to source the same product in more than one region, to the extent it is possible and not cost-prohibitive.' The same release later mentioned that 'While the Company has not yet made all its pricing decisions, price increases are being considered, along with other mitigation strategies.' 5.01.25: The Canadian-based trail-running brand published an announcement on its site stating it would 'temporarily pause all shipping to the United States.' 'We have made the difficult decision to temporarily pause all shipping to the United States. The current tariff situation, that comes into effect May 2, would force us to increase our prices to a point we do not feel is right to pass onto you at this time.' A statement on published on May, 1, 2025 4.16.25: According to a report from Bicycle Retailer, in an email sent by North America Regional Leader Jesse Porter on April 9, the brand will increase the cost of bikes and equipment starting on May 1st, 2025. The 10% price increase added by tariffs would be clearly listed out to customers on invoices. 'Riders clearly see what they're paying for – not a hidden cost,' the email stated while also mentioning that the company would 'maintain flexibility to update or remove the charge if government tariffs change.' 4.17.25: According to a report from Bicycle Retailer, Trek Bicycles sent an email to retailers stating that bike prices for many models would rise immediately given that tariffs were increasing costs 'to a level that needs to be addressed.' The brand also noted that the increase would apply to backorders and new purchases 'to avoid a 'run on the bank' with our inventory and to be equitable to all retailers.' 4.28.05: As reported by our sister publication the Japanese camera maker confirmed its upcoming response to tariffs in the US as part of the company's Q1 financials announcement. 'We will raise prices and are in the process of estimating the timing and amount of the increase.' The brand also noted that it already had 'about one to two months' worth' of inventory in the U.S., and as a result, estimated that the impact of tariffs will mainly occur from the latter half of the year.' 'We will raise prices and are in the process of estimating the timing and amount of the increase.' Canon Inc. 1Q 2025 Analyst Meeting Q&A Session Summary, April 28, 2025. 5.3.25: As reported by Ecoustics, KEF America released a formal statement outlining price increases starting May 5th, 2025. The brand noted, 'In the past year, the cost of [premium components, tooling and master craftspeople] has risen sharply across the global supply chain, including tariff increases. Rather than compromise on performance or longevity, we will be implementing a modest price adjustment on 5 May 2025.' 5.01.25: On a support page published on Microsoft outlined how the entry-level Xbox Series S would increase in price by $80 while the Xbox Series X would increase in price by $100. Starting this holiday season, new games will also be priced at $79.99. 4.18.25: In a press release on its website, Nintendo confirmed that the Switch 2's pricing would not change due to tariff policies. However, the same press release confirmed that Switch 2 accessories 'will experience price adjustments from those announced on April 2 due to changes in market conditions.' The brand also left room for future price adjustments later, saying, 'Other adjustments to the price of any Nintendo product are also possible in the future depending on market conditions.' 5.05.25: As reported by our sister publication in a letter on its press site, camera maker Sigma America announced, 'Due to the recent implementation of government-imposed tariffs, our costs at Sigma America have increased substantially. We have made every effort to absorb these added expenses. Still, the sustained impact of the tariffs now necessitates a price increase [starting on June 2, 2025] to ensure we can continue delivering the quality and service you expect.' 'Due to the recent implementation of government-imposed tariffs, our costs at Sigma America have increased substantially. We have made every effort to absorb these added expenses. Still, the sustained impact of the tariffs now necessitates a price increase' – Mark Amir-Hamzeh, President of Sigma America, May 5th, 2025 Tamron 5.05.25: As our sister publication reported, camera lens maker Tamron shared, as part of its 1st Quarter FY2025 financial results, that it was actively pursuing shifts in its production to increase the amount of products made in Vietnam and decreasing its parts procurement from China.
Yahoo
09-05-2025
- Automotive
- Yahoo
Tariffs to be cut on UK-made cars, beef, under new deal, Telegraph says
The U.S. will cut tariffs on UK-made cars to 10% as part of Donald Trump's trade deal with the UK and in return the United Kingdom and United States will slash tariffs on beef imports and exports close to zero, though Britain will not allow hormone-treated beef into the UK as part of the deal, The Telegraph understands. The terms form part of a 12-month 'temporary arrangement' ahead of striking what Britain and the U.S. hope will be a comprehensive trade deal in the coming months, the report added. Publicly traded automakers include Ford (F), General Motors (GM), Honda (HMC), Mercedes-Benz (MBGYY), Nissan (NSANY), Stellantis (STLA), Tesla (TSLA), Toyota (TM), Volkswagen (VWAGY) and Tata Motors (TTM). Publicly traded meat producers include Hormel Foods (HRL), Pilgrim's Pride (PPC) and Tyson Foods (TSN). Discover companies with rock-solid fundamentals in TipRanks' Smart Value Newsletter. Receive undervalued stocks, resilient to market uncertainty, delivered straight to your inbox. Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>> See today's best-performing stocks on TipRanks >> Read More on F: Disclaimer & DisclosureReport an Issue SCHD ETF News, 5/8/2025 'Their Strengths Reveal…Your Weaknesses': Ford Stock (NYSE:F) Slides as Tariffs Spark Price Hikes China announces stimulus measures, Disney reports Q2 beat: Morning Buzz Ford raising prices on Mexico-produced models amid tariffs, Reuters reports Ford price target raised to $11 from $10 at Citi Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
