U.S. retailers and other major companies expressed worry that the so-called "reciprocal tariffs" on all U.S. trading partners threatened by U.S. President Donald Trump's administration could cause major disruption and revenue loss.
Trump on Wednesday said he may soon re-instate the "reciprocal tariffs" following weeks of delay.
According to a report by U.S. outlet Axios, three of U.S. biggest retailers -- Walmart, Target and Home Depot -- warned the Trump administration in a meeting that the policies could lead to severe negative impacts, including shortages and price hikes.
The CEOs of the retailers held private discussions with Trump on how to alleviate the destructive influence of the tariff policies on the global supply chain and soothe the unease of American consumers.
The executives were straightforward in telling the president that his tariffs would disrupt the supply chain and even lead to empty shelves, according to the Axios report.
Meanwhile, due to the uncertainties brought by U.S. tariffs to the global economy, several large U.S. companies have adjusted their expectations on revenue and profit.
World-leading American consumer goods corporation Proctor and Gamble projected that its all-in sales for fiscal 2025 would total roughly equal to the previous fiscal year, which is much lower than its previous two-to-four-percent growth target, according to the company's press release on Thursday.
The company also noted that the expenditure of American consumers has already significantly dropped in February and March.
Global toy giant Hasbro issued early warnings in the company's earnings call that if the U.S. government continues the current tariff policies, it will suffer a loss of 300 million U.S. dollars in 2025.
On Thursday, American Airlines lowered its 2025 financial forecast. CEO Robert Isom said the uncertainties of U.S. economy could impact non-essential spending on travel, and the results for the first and second quarters suffer as a result.
US firms warn Trump's tariff chaos could give rise to empty shelves, higher prices
US firms warn Trump's tariff chaos could give rise to empty shelves, higher prices
The Iranian government is focusing on public concerns and maintaining stable supplies of essential goods amid recent protests, Iranian President Masoud Pezeshkian said in a televised interview on Sunday.
In the city of Karaj, northwest of the capital Tehran, daily life has largely continued as normal. A video filmed by a local resident on Sunday shows food stores open and grocery shelves fully stocked.
"This is the block near my home, and there are some food stores here. Daily life continues here. Last night we did not see many protests in Karaj. Right now the city is very safe. This is a grocery store close to my home. All the food is available; nothing is in shortage. Here are noodles and different types of beans. Here are dairy products, cheese, and yogurt. I also checked other grocery stores and didn't see any shortages. Everything is available," said local resident Ali Reza.
Iranian officials have described recent disturbances as acts orchestrated by the "enemy," including some carried out by well-trained and armed "terrorists." The incidents have caused casualties among security personnel and civilians, as well as property damage.
The Secretary of Iran's Supreme National Security Council Ali Larijani has directed authorities to severely punish the "terrorists."
Meanwhile, Iran's police chief Ahmad-Reza Radan said on Sunday that the police had raised alert levels and arrested several leaders of the troublemakers during the operations on Saturday.
President Pezeshkian noted in the interview that the normal demands of the Iranian people are reasonable and justified, but they must realize that triggering riots and carrying out terrorist acts are the enemy's attempts to undermine the country. He urged the public to remain vigilant.
Also on Sunday, Iranian Parliament Speaker Mohammad Baqer Qalibaf warned that Tehran would regard U.S. and Israeli bases and facilities in the Middle East as "legitimate targets" if Washington takes military action against Iran. His remarks followed media reports saying U.S. President Donald Trump is "seriously considering authorizing a strike" against Iran.
Iranian state media reported that at least 109 members of Iran's security forces have been killed in clashes since the protests began 14 days ago. Meanwhile, human rights groups based outside the country said the number of protesters killed has exceeded 200, though the figure could not be independently verified.
The protests initially erupted over a sharp depreciation of the rial and sweeping subsidy reforms. Iranian authorities have blamed the unrest on foreign-linked agents and sanctions imposed by the United States.
Iranian president says government focusing on ensuring supplies amid protests
