The well -known top -of -the -top executives of the US companies are warning the impact of tariffs on the company and a wider economy.
Technical Intel, Sketchers, a shoe producer, and Procter & Gamble, a consumer goods company, have withdrew from reducing profits or quoting economic uncertainty.
US President Donald Trump has been trying to relate his relationship with major trading partners by using a steep tariff to the negotiation table.
The new trade agreement between the United States and other countries has not yet been announced, but there is no sign of progress in dialogue with Korea.
Intel’s chief financial officer David Zinsner said, “The flexible trade policy and regulatory risks in the United States and afterwards have increased the possibility of economic slowdown due to the possibility of an increase in the economic downturn.”
The company, headquartered in California, announced depressed profits and revenue forecasts, saying, “We will definitely increase the cost.”
Intel’s stock price has decreased by more than 5% in extension trading after the remarks.
In addition to the technology industry, shoe producers were disappointed by investors. The company’s shares fell after withdrawing the outcome forecasts annually.
“The current environment is too dynamic to ensure reasonable success.
SKECHERS, such as rivals Nike, Adidas and Puma, uses factories in Asia, especially in China.
The opinions of Procter & Gamble (P & G) executives also suggested that tariffs can be higher for customer prices.
The manufacturers of Ariel, Head & Therkers and Gillette say they are considering changing prices to replenish additional materials supplied in China and other places. It is also expected to increase more sales this year than previously predicted.
“We will be looking for all the opportunities to alleviate the influence,” said Andre Schulten, the financial officer of P & G.
The Japanese of Seven & I, a 7-ELEVEN convenience store, also said that it also has the influence of trade tension.
North America accounts for more than 70% of sales.
Stephen Dacus, chief executive officer of Stephen Dacus, told the BBC about the uncertainty faced by the business.
“We don’t know what the tariffs are. We have recently seen the news of where they have changed, so it’s a bit difficult to understand what the ultimate effect is.”
“Lowering the price and lowering quality is usually not effective … So what you need to do is to find a way to maintain quality while lowering costs.”
They join the list of cases of companies around the world that warned Trump’s influence.
Giant Hyundai, an automobile manufacturing giant in Korea, announced on Friday that it has established a task force to find a way to deal with the failure from tariffs.
“We expect that challenging business prospects will continue due to trade conflicts and unpredictable macroeconomic factors.”
It added that it is considering moving some manufacturing in Korea.
The company has already shifted some production from Mexico to the United States, accounting for about one -third of the world’s sales.
On the other hand, on Thursday, the talks between Washington’s Korean trade officials were positive.
Scott Bessent said the US Treasury Secretary said that both sides had a “very successful” meeting.
“We can move faster than I thought, and we will talk about technical terms early next week,” he told reporters after the meeting.
Korea’s industrial minister, Duke Daewoo, who also participated in the talks, added that he is working hard to “July package” by repercus of Bessent’s optimism.
The 90 -day suspension of high tariffs affecting dozens of countries will expire on July 8.
Trump said more than 70 countries have contacted to start negotiations since the tariff was announced.
