FACTBOX-How big global companies are dealing with tariff trauma

ReutersMay 29, 2025 4:56 PM

May 29 (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 Sector bellwethers have slashed or withdrawn earnings forecasts, cautioned about rising costs, and unveiled strategies to navigate the uncertainty ahead.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/ Profit Warning	Costs Impact	Supply Chain Changes/ Price Changes	Others	Comments
Apple AAPL.O	United States	Predicts hit to Q3 gross margins	Warned of $900 million costs related to tariffs	iPhones sold in the U.S. in Q2 will come from India; vast majority of products for markets outside U.S. will come from China	Trims share buyback program by $10 billion	CEO: We have a complex supply chain. There's always risk in the supply chain
Ford F.N	United States	Suspended FY25 guidance; predicts $1.5 bln impact to FY25 core earnings	Estimated gross cost of tariffs at ~$2.5 billion	Hiked prices on three of its Mexico-produced models	--	Offsetting $1 billion of tariff costs through measures including transporting vehicles from Mexico to Canada using bond carriers
General Motors GM.N	United States	Cut FY25 profit forecast	Tariff exposure expected between $4 billion and $5 billion	Working with suppliers to further increase their U.S. content for higher levels of compliance with the USMCA trade agreement	Temporarily paused buyback activity	CEO: "Making a commitment that we are going to bring more production back to this country to build on what we already have."
Walmart WMT.N	United States	Withheld Q2 earnings guidance	--	To start raising prices in May due to high cost of tariffs	Working with suppliers to substitute tariff-affected components	CEO: Will do best to keep prices as low as possible; unable to absorb all the pressure given narrow retail margins
Toyota 7203.T	Japan	Forecast 21% decline in FY25 profit	Estimates 180 billion yen ($1.25 billion) hit to April-May results	--	Intends to continue to increase dividends despite tariff impact	CEO: Over long-term, we'll continue to progress with local production and development and in short-term we'll work on optimising operations to best meet demand.
Honda 7267.T	Japan	Forecast a 59% decline in FY25 profit	Expects 650 billion yen hit to its FY26 operating profit	--	Its plans to build an EV supply chain in Canada to be put on hold for "approximately two years"	Expect to offset 200 billion yen of tariff impact through "recovery efforts"
Delta Air Lines DAL.N	United States	Withdrew FY25 forecast	Forecast Q2 profit below expectations	--	To defer aircraft deliveries that face tariffs and slash capacity to protect margins	CEO: "Given broad economic uncertainty around global trade, growth has largely stopped."
RTX Corp RTX.N	United States	--	Expects $850 million hit to profit over 2025	--	--	CEO: Current environment is clearly very dynamic, but our company is well-positioned to perform operationally
3M MMM.N	United States	Predicts impact of 20-40 cents/share on 2025 adjusted profit	Sees $850 million of potential annualized impact before exemptions	Plans to leverage its network to mitigate the tariff costs	--	CEO: Have opportunities to shift around network to bring product into China from other regions that don't have same sort of tariff effect
Johnson & Johnson JNJ.N	United States	Cuts FY25 adjusted operational earnings forecast	Predicts $400 million cost hit, primarily in medical device business	--	--	CEO: Tariffs on pharmaceuticals can create supply chain disruptions; favorable tax policies would be more effective in boosting U.S. manufacturing capacity
MTU Aero Engines MTXGn.DE	Germany	--	Expects impact of tariffs to be in the mid-to-high double-digit million euros range in 2025	--	--	CEO: U.S. customs policy is highly volatile at the moment and its potential impact on the global aviation industry is hard to predict right now
Porsche P911_p.DE	Germany	Cut FY25 profit margin and revenue forecast	Suffered a hit of at least 100 million euros across April and May	--	--	CFO: Localising production in the U.S. made no sense at the moment due to Porsche's low vehicle sales figures
Mercedes-Benz MBGn.DE	Germany	Withdrew FY25 earnings	If tariffs remained in place all year, profit margins would reduce by 300 bps on cars and 100 bps on vans	--	"Constructive" talks with the Trump administration over boosting Mercedes' U.S. manufacturing presence ongoing	CEO: "Clearly Mercedes-Benz is a global player ... we don't fear competition in any direction. But that's not the environment we're operating in."
Stellantis STLAM.MI	Netherlands	Suspends FY25 guidance	--	Calibrating production and employment to reduce impacts on profitability	To reasses capital spending plans between May and June and calibrate "production and employment to reduce impacts on profitability".	Company: "Response and mitigation actions will continue to be refined as appropriate."
Volvo Cars VOLCARb.ST	Sweden	Withdrew earnings guidance for FY25 and FY26	--	Need to adapt to a more regionalised world, including a more tailored approach for each region	Announced "cost and cash action plan" worth 18 billion Swedish crowns, as well as restructuring of U.S. operations	CEO: Era of "being a global company", having global products and shipping cars back and forth over the borders, "seems to be gone".

(Source: Reuters' stories and company disclosures)

($1 = 143.5700 yen)

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