US Profit Margins Face Key Risk From Tariffs, Goldman Strategists Say
General Mills shares fell 5% last week as the food company warned of a tariff hit on its cost of goods sold.
Photographer: Tiffany Hagler-Geard/BloombergUS profit margins face a big test in the upcoming reporting season as investors assess the damage from President Donald Trump’s trade war, according to Goldman Sachs Group Inc. strategists.
The team led by David Kostin said second-quarter earnings will “capture the immediate effects” of tariffs that have already increased by about 10 percentage points since the start of the year.