Corporate America is counting the cost of Donald Trump’s trade war, with executives warning of escalating expenditures, gummed-up supply chains and a hit to the world’s largest economy.
While company leaders have generally avoided public criticism of the US president, they have been forced to confront his tariffs — which include levies of 145 per cent against export powerhouse China — on quarterly earnings calls with analysts this month.
Transport, energy, telecommunications and homebuilding companies were among those to discuss the tariffs with Wall Street. In their comments, executives raised the alarm about the consequences of Trump’s sweeping duties, echoing economists’ warnings of recession.
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