Top American brands say the trade war is now eating into their profits



Cassandra Kuball

Rachel Siegel and Hamza Shaban | July 25, 2018

Some of the largest companies in America are reporting this week that they are suffering the sting of the Trump administration’s trade war, sounding alarm in an otherwise prosperous economy.

General Motors said Wednesday that it has lowered its outlook for 2018 earnings in part because of significant increases in the costs of raw material. GM’s stock fell more than 6 percent during early morning trading. Trump imposed tariffs on aluminum and steel — major components of cars — earlier this year.

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