Last month, a big issue with U.S. President Donald J. Trump’s proposed new tariffs was the uncertainty.
When the signals from the Trump Administration changed nearly daily regarding whether tariffs would be implemented and how they would work, it led to significant volatility.
Trump and the Tariffs are Creating ‘Corporate Chaos’
Now, American companies are dealing with something worse than uncertainty.
According to Reuters, the tariffs have begun to unleash “corporate chaos” beyond the borders of the U.S.
When companies, like UPS, haven’t been announcing job cuts, they’ve been pulling their outlooks and delaying their earnings calls. General Motors was among those companies, pushing back its planned earnings call by two days, “pending possible changes to trade policy.”
Kraft Heinz, Electrolux, and Jetblue, per Reuters, are among the other companies that have either pulled or slashed their forecasts and outlooks.
“Every single prediction has been proved to be wrong,” Electrolux CEO Yannick Fierling told Reuters. “I’m surprised if people are claiming they have a view where tariffs are going.”
Amazon, Too
But the most high-profile company caught in the tariff crossfire on Tuesday has been Amazon.
Over a couple of hours on Tuesday morning, Amazon floated the idea that they would list, on every product page, how much of the price was due directly to the tariffs.
At a White House press briefing not long after, Press Secretary Karoline Leavitt denounced the move, first reported by Punchbowl News, as “a hostile political act.”
Amazon, soon after, denied that it was going to go forward with the plan. It claimed later that “the team that runs our ultra low cost Amazon Haul store considered the idea of listing import charges on certain products. This was never approved and (is) not going to happen.”
This led Rep. Marjorie Taylor Greene (R-GA), in a rare moment of distance from the Trump Administration, to declare on X that she was all for the itemized tariff idea.
“Ahhh come on Amazon!!,” the Georgia Congresswoman declared. “I was getting so excited about the Amazon tariff tracker so I could avoid buying anything from China!!”
Trump spoke about the matter on Tuesday, acknowledging that he and Amazon founder Bezos had spoken that day.
“He solved the problem very quickly and he did the right thing,” Trump said of Bezos, with whom he frequently clashed throughout his first term. The two have since become closer, with Bezos dining with the president at Mar-a-Lago, blocking a Washington Post endorsement of Kamala Harris, and attending the Trump inauguration.
Prime Day in Jeopardy?
However, despite the tariff tracker being taken off the table, it doesn’t mean prices haven’t risen dramatically for the numerous Chinese-made products that are made in China. While Amazon announced Tuesday that the annual Prime Day will take place in July, numerous resellers have opted to pull out of participation in the retail holiday.
“Amazon will be fine, but I do feel for some of the third-party sellers – they’re the ones that are going to be hurt the most in this environment,” Arun Sundaram, an analyst at CFRA Research, told Reuters.
Is a Trade Deal “Done”?
One thing that could put an end to the volatility and chaos is for the U.S. to reach trade deals with some of its larger counterparts, starting with China itself. But there are no indications that a deal is anywhere close with China.
Meanwhile, Commerce Secretary Howard Lutnick told CNBC that one deal has been “reached” with an unnamed country, but did not specify which country, and indicated that the deal is not “finalized.”
“I have a deal done, done, done, done, but I need to wait for their prime minister and their parliament to give its approval, which I expect shortly,” Lutnick said, although waiting for approval appears to contradict the part about it being “done done done done.”
He shared that China negotiations are in Treasury Secretary Scott Bessent’s “portfolio,” while the rest of the countries are his.
About the Author: Stephen Silver
Stephen Silver is an award-winning journalist, essayist and film critic, and contributor to the Philadelphia Inquirer, the Jewish Telegraphic Agency, Broad Street Review and Splice Today. The co-founder of the Philadelphia Film Critics Circle, Stephen lives in suburban Philadelphia with his wife and two sons. For over a decade, Stephen has authored thousands of articles that focus on politics, technology, and the economy. Follow him on X (formerly Twitter) at @StephenSilver, and subscribe to his Substack newsletter.
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