RTX Shares Drop on Potential $850 Million Hit From Trump Tariffs
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Aerospace and defense giant RTX Corp. shares fell as much as 9.3% in morning trading after the company said tariffs stemming from President Donald Trump’s trade war pose a significant risk to operating profit.
The company said it’s bracing for an $850 million tariff hit to operating profits, including $250 million from Canada and Mexico and $250 million from duties on trade with China. The figure also includes actions available to the company to mitigate the impact.