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Major US companies cut their profit cap
15/8/2018 12:00 am [rtl] Washington / Nafie Fartoussi Only a few weeks after the entry of new tariffs and tax rates between the world's two most powerful economies, American consumers began to feel the impact of their trade war on the prices of everyday living goods. A group of US companies have prepared consumers to significantly increase their product prices as the results of the second quarter of the year, in order to maintain their margin of profit against the sharp rise in prices of steel and aluminum, which leads to increased production costs. High prices Chief Executive Officer in the months of soft drinks and soda "Coca - Cola" James Quincy companies, touched to raise product prices by saying , "It is clear that this worrying us. It is worrying for our customers, but it is necessary." His company increased its prices earlier this month after the 25 per cent tariff on steel and 10 per cent on the aluminum imposed by Trump and entered into force. The official explained his company's decision, saying that "these taxes are one of the reasons that led us in the middle of the year to announce an increase in prices and otherwise we would not even think about it." China, the European Union, Canada and Mexico responded with heavy tariffs on packaging, affecting the prices of plastics, paints and transport. Deborah Thomas, financial director of Hasbro, warned that "in the near term there will be an impact on consumers without a doubt." The company specializing in mental games (Scrabble and Trevail Borsut) negotiations with suppliers and distributors to discuss the increase in prices may be applied during the New Year holiday. The cost increase Although Commerce Minister Wilbur Ross confirmed last March, consumers will not notice the entry of new tariffs on aluminum into effect. However, experts say that the new customs duties are reflected in two ways: they increase the cost of raw materials and imported materials, and on the other hand they increase the prices of their customers in the export markets. Tighter tariffs have been imposed at a time when US companies are suffering from the high price of the dollar, which is hampering their exports, and falling currencies of emerging countries (Brazilian riyal, Argentine peso and others), eroding their profits in these areas. Reduce expectations of the three major US automakers in Detroit: Ford, GM and Fiat Chrysler, lowered the ceiling of its forecast profit for the year 2018, attributed the new figures to the tariff tight, leading to the worst session of its shares in the stock market since the bankruptcy of "General Motors" and "Chrysler "In 2009. GM estimates the bill for rising steel and aluminum prices, the mineral, which accounts for more than half of all automotive components, to more than $ 1 billion in 2018. "We will compensate for these lost profits by raising prices," said its chief financial officer, Chuck Stevens. "This is one of the rare means available to the car company to maintain its competitiveness." Starting this August, consumers who want to buy a Chevrolet or a small GM truck will have to increase their budget because the prices of these cars will rise. US protectionist measures and reprisals from some target countries provide only a few sectors and their damage to the heart of the US countryside .[/rtl] [rtl]http://www.alsabaah.iq/ArticleShow.aspx?ID=161807[/rtl] |
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