Grim Economic Outlook Overtakes Solid Earnings as Tariff Disruptions Surface
Sales associates at a Deere & Co. dealership in Galesburg, Illinois. Deere expects levies to have a $500 million impact on costs in fiscal 2025.
Photographer: Daniel Acker/Bloomberg
One thing is clear as the first-quarter earnings season draws to a close: The uncertain outlook for the global economy is superseding better-than-feared results even as stocks rally on signs of easing trade tensions.
Corporations across the US, Europe and China are pulling their forecasts for the year or providing grim outlooks, citing rising costs, weak consumer sentiment and a lack of business confidence as a result of President Donald Trump’s worldwide trade offensive.