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Companies Sound Alarm as Tariff Tensions Escalate
Financial Express Chennai
|February 13, 2025
Supermarket Group Ahold Delhaize and Siemens Energy said on Wednesday US import tariffs will lead to higher prices as they pass on the costs, while specialty steel-maker voestalpine urged Brussels to retaliate for duties threatened by Donald Trump.
Executives around the world are scrambling to offset the cost of the US president's move to impose 25% tariffs on aluminum and steel and keep up with changing US trade policies that threaten to upend industries from autos to consumer goods to energy.
On Wednesday, Trump's trade advisers were finalizing plans for the reciprocal tariffs the US president has vowed to impose on every country that charges duties on US imports, ratcheting up fears of a widening global trade war.
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