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c. tODAY
Survey Finds
More Than 25%
of Fortune 500 Earnings Calls
Touched on Tariffs Impact
Article by US Chamber Staff
Since the beginning of the year, Comments surrounding tariffs on the earnings calls
more than a quarter of Fortune had the following broad themes: financial pressure,
500 companies have mentioned the supply chain disruption, uncertainty, delayed
impact of tariffs on earnings calls, transactions and pass-through costs to consumers.
according to analysis conducted by Taking a deeper dive into the data, the study found
the U.S. Chamber of Commerce. that the retail companies and manufacturing and
The data adds to mounting industrial firms mentioned tariffs most frequently, at
empirical evidence that tariffs pose 61% and 47% respectively.
a growing concern for American
businesses and present a major According to the analysis, companies’ concerns
threat to the U.S. economy. clustered around negative concepts like “disruption,”
“uncertainty,” and “anxiety.” Many also expressed
Using natural language processing concerns in their earnings calls about how tariffs might
(NLP) to map patterns in language inevitably lead to higher costs for American customers.
surrounding the mentions of
trade tariffs, the study found It’s difficult to see where the tariffs imposed on
that 138 Fortune 500 companies imports from China – the largest source of U.S. imports
(representing 28% of the Fortune – or other countries might end and to quantify their
500) discussed the impact of tariffs potential impact. The U.S. has imposed a 25% tariff on
on earnings calls in the first half of $250 billion of imports from China in the past year and
the year. may extend the tariff in the weeks ahead to cover an
additional $300 billion of Chinese goods.
Fortune 500 companies produce
two-thirds of the U.S. GDP with $13.7 Meanwhile, tariffs were nearly imposed on all
trillion in revenue and 28.7 million imports from Mexico, which recently became the
employees, meaning that the U.S.’s top U.S. trading partner. Additional tariffs have been
largest businesses are expressing threatened on imports of autos and auto parts, which
concern at recently imposed or could hit U.S. trade with the European Union and
proposed tariffs with our country’s Japan particularly hard. A decision on these tariffs has
biggest trading partners. been deferred until mid-November.
15 AmCham South China
Survey Finds
More Than 25%
of Fortune 500 Earnings Calls
Touched on Tariffs Impact
Article by US Chamber Staff
Since the beginning of the year, Comments surrounding tariffs on the earnings calls
more than a quarter of Fortune had the following broad themes: financial pressure,
500 companies have mentioned the supply chain disruption, uncertainty, delayed
impact of tariffs on earnings calls, transactions and pass-through costs to consumers.
according to analysis conducted by Taking a deeper dive into the data, the study found
the U.S. Chamber of Commerce. that the retail companies and manufacturing and
The data adds to mounting industrial firms mentioned tariffs most frequently, at
empirical evidence that tariffs pose 61% and 47% respectively.
a growing concern for American
businesses and present a major According to the analysis, companies’ concerns
threat to the U.S. economy. clustered around negative concepts like “disruption,”
“uncertainty,” and “anxiety.” Many also expressed
Using natural language processing concerns in their earnings calls about how tariffs might
(NLP) to map patterns in language inevitably lead to higher costs for American customers.
surrounding the mentions of
trade tariffs, the study found It’s difficult to see where the tariffs imposed on
that 138 Fortune 500 companies imports from China – the largest source of U.S. imports
(representing 28% of the Fortune – or other countries might end and to quantify their
500) discussed the impact of tariffs potential impact. The U.S. has imposed a 25% tariff on
on earnings calls in the first half of $250 billion of imports from China in the past year and
the year. may extend the tariff in the weeks ahead to cover an
additional $300 billion of Chinese goods.
Fortune 500 companies produce
two-thirds of the U.S. GDP with $13.7 Meanwhile, tariffs were nearly imposed on all
trillion in revenue and 28.7 million imports from Mexico, which recently became the
employees, meaning that the U.S.’s top U.S. trading partner. Additional tariffs have been
largest businesses are expressing threatened on imports of autos and auto parts, which
concern at recently imposed or could hit U.S. trade with the European Union and
proposed tariffs with our country’s Japan particularly hard. A decision on these tariffs has
biggest trading partners. been deferred until mid-November.
15 AmCham South China
