Harley-Davidson, Hershey, Adidas, Mercedes warn of profit woes and tariff costs after US-EU 15% deal
Collection of huge global brands issue warnings on Trump’s EU tariffs
- Companies from various industries have issued warnings regarding the financial impact of tariffs imposed by the Trump administration.
- Harley-Davidson reported a significant drop in net income and withdrew its financial guidance for the year, citing the tariffs as a key factor.
- Adidas indicated that tariffs could increase its costs by up to $231 million, despite an overall increase in sales, and is considering price adjustments in the US.
- Hershey experienced a 33 per cent decline in operating profits and anticipates tariff expenses between $170 million and $189 million, a substantial increase from previous estimates.
- Mercedes-Benz expects tariffs to reduce its operating margin by 1.5 percentage points, equivalent to $420 million, affecting imports from Mexico, China, and Europe.