P&G Reports Over $1 Billion Tariff Impact, Plans Price Increases

Major American companies such as Freeport-McMoRan and Procter & Gamble are feeling the effects of ongoing tariff uncertainty, with Freeport-McMoRan reporting strong first-quarter copper sales but warning that future cost reductions may be offset by potential tariff impacts. Procter & Gamble is facing an estimated $1 billion to $1.5 billion annual cost increase due to tariffs and plans to raise prices as part of its strategy to mitigate these expenses, while also shifting sourcing and altering product formulations. The broader corporate landscape is marked by similar concerns, as many industries struggle to forecast costs and sales amid shifting tariff policies. Public sentiment reflects these anxieties, with polls indicating that about half of U.S. adults expect Trump’s trade policies to substantially raise prices and are concerned about a possible recession. Although skepticism over tariffs is growing, a significant portion of Americans still support President Trump’s overall economic approach, while others remain cautious and await clearer outcomes. The evolving tariff situation underscores the challenges companies and consumers face in adapting to a volatile trade environment.