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A Chipotle store stands in the Bronx on April 23, 2025 in New York City. Spencer Platt | Getty Images From Procter & Gamble to Chipotle, consumer companies are slashing their forecasts, projecting that tariffs will weigh on their profits and put more pressure on an already shaky consumer. At least a dozen companies have cut or pulled their full-year outlooks so far this earnings season, with several more weeks of quarterly reports still on deck. For many companies, tariffs mean higher prices on key commodities, like Peruvian avocados or saccharin to make toothpaste, which will eat into their earnings. But the uncertainty bred by the trade war is just as damaging to businesses’ bottom lines as consumers pull back their spending. The cautious projections come in the middle of a 90-day pause of the higher rates under President Donald Trump’s so-called reciprocal tariff plan. Until early July, most imports will face a duty of 10%, excluding goods from China — which are subject to 145% duties — along with aluminum, cars and other non-exempt items. Still, the situation changes almost daily. Treasury Secretary Scott Bessent told investors in a closed-door meeting on Tuesday he expects “there will be a de-escalation” in Trump’s trade war with China in the “very near future.” The White House also said Wednesday that automakers could win exemptions for some tariffs. Higher prices to fight lower profits Packages of Cascade Platinum Plus dishwasher detergent are stacked at a Costco Wholesale store on March 11, 2025 in San Diego, California. Kevin Carter | Getty Images Under the tariffs in effect now, coffee, board games and aircraft are all more expensive for companies to make. Many executives will likely choose to raise prices to mitigate the dent to profit margins. “Aircraft cost too much already. I don’t want to pay any more for…

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Filed under: News - @ April 24, 2025 5:30 pm