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Survey: US Firms Hit Hardest by Trump's Tariffs
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Amid the global tariff war sparked by US President Donald Trump, an HSBC survey revealed that US companies were concerned that unstable policies would affect their revenue, with more than half of them expecting at least a 25% hit on revenue, due to the constantly changing tariff policies of Trump. The trade survey report released last Friday (16th) checked on over 5,700 multinational companies across 13 countries and found widespread concern about the impact of tariffs, with two-thirds of respondents indicating they experienced rising costs due to tariffs and trade uncertainties. About a quarter of the US companies surveyed projected that their revenue will shrink by more than half in the next two years, under the impact of tariffs on the supply chain. In contrast, Chinese companies were more optimistic about the impact, with about a quarter foreseeing a 25% or more impact on revenue, and more than half expecting a revenue slump of 10-25%. AASTOCKS Financial News Website: www.aastocks.com |
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