Companies behind some of America’s best-known brands are warning that tariffs will raise costs by hundreds of millions of dollars as Friday’s key deadline nears.
Firms are gearing up for the long-awaited Friday deadline, when the White House says it will start imposing higher import taxes on foreign countries. Now businesses in a range of industries are saying this shakeup in global trading practices will cost them.
Tool maker Stanley Black & Decker
said Tuesday it expects an $800 million annualized hit from policy changes tied to tariffs. That doesn’t include costs in connection with steps the company is taking to mitigate the effects of the levies, according to finance chief Patrick Hallinan.
For Marie Callender’s and Slim Jim parent Conagra Brands
