Global companies lose more than $34 billion due to US tax policy

On May 29, Reuters news agency cited an analysis of trade data saying that US President Donald Trump's tariff war has cost companies more than $34 billion so far due to lost revenue and higher costs.

Consumers shop at a supermarket in California, USA. (Photo: THX/TTXVN)

The analysis predicts that losses will continue to rise as uncertainty from the tariff war “paralyzes” decision-making at some of the world’s largest corporations.

From the US, Asia to Europe, a series of large companies such as Apple, Ford, Porsche and Sony have withdrawn or lowered their profit forecasts, most of which said that the erratic trade policies of the Trump administration are making it increasingly impossible to accurately calculate business costs.

The source said the $34 billion loss mainly came from 32 companies listed on the S&P500; 3 companies on Europe's STOXX 600 index and 21 companies in Japan's 225 group.

Economists say the costs to businesses could be many times higher than what companies disclose. Automakers, airlines and importers of consumer goods are among the hardest hit. Tariffs hit the cost of raw materials and items like aluminum and electronics, which are already rising.

Economist Rich Bernstein, CEO of consulting firm Richard Bernstein, said that in the current uncertain tariff situation, making any forecast is extremely difficult.

Meanwhile, Wall Street forecasts that net profits of S&P 500 companies will grow an average of 5.1% per quarter between April and December 2025, down sharply from the 11.7% growth rate of the previous year./.

According to VNA

Source: https://baothanhhoa.vn/cac-cong-ty-toan-cau-thiet-hai-hon-34-ty-usd-do-chinh-sach-thue-cua-my-250388.htm