European and UK companies are laying bare the cost of the US trade war, with executives outlining the hit to consumer confidence, the threats to supply chains and the destabilising effect of prolonged uncertainty over the level of tariffs.
Nestlé, the world’s largest food company, Mercedes-Benz and UK consumer goods group Unilever are among a wave of companies to have put investors on notice of how business conditions have shifted since Donald Trump announced a blitz of tariffs against America’s trading partners last month.
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