Detroit • From Ford to Walmart to Procter & Gamble, a growing number of iconic American companies are warning that President Donald Trump’s tariffs on U.S. imports are raising their costs and prices.
Jim Hackett, CEO of Ford, the second-largest U.S.-based automaker, said Wednesday that Trump's taxes on imported steel and aluminum will cost Ford $1 billion through 2019.
Likewise, Walmart, America's largest retailer, has told the administration that Trump's latest round of taxes — on $200 billion of Chinese imports — could increase prices for its shoppers. Walmart specifically mentioned items ranging from car seats, cribs and backpacks to hats, pet products and bicycles.