Tariffs and trade tensions are a huge source of worry for US companies, with nearly half of Fortune 500 companies referencing such concerns during last quarter’s earnings calls, the US Chamber of Commerce said on Thursday, reported Reuters.
Tariffs or trade tensions and their impact on business performance were referenced 1,150 times during 188 of the 437 calls discussing quarterly financial results recorded from late August to late November, a study conducted by the Chamber showed.
The highest level of concern was voiced by the retail sector, which has been hit hard by tariffs over the last 17 months, followed by manufacturing firms, and transportation and logistics companies.
The Chamber last week welcomed the China trade deal, but urged the world’s two largest economies to conclude a broader pact within six months that tackles the deeper issues that hampered US companies’ ability to compete globally. It said the next negotiations should address structural issues such as “China’s massive subsidies, digital and data discrimination, and a range of outstanding forced technology transfer concerns.”