US stock futures drop as Trump imposes sweeping new tariffs

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US stock futures drop as Trump imposes sweeping new tariffs Medora Lee, USA TODAY August 1, 2025 at 7:17 PM U.S. stock futures are lower, ahead of the key monthly jobs report and after President Donald Trump signed an order imposing sweeping new tariffs on countries across the world.

- - US stock futures drop as Trump imposes sweeping new tariffs

Medora Lee, USA TODAY August 1, 2025 at 7:17 PM

U.S. stock futures are lower, ahead of the key monthly jobs report and after President Donald Trump signed an order imposing sweeping new tariffs on countries across the world.

July's jobs report is due at 8:30 a.m. ET and is expected to show the economy added 100,000 jobs, according to a Dow Jones survey of economists. The unemployment rate is seen edging up to 4.2% from 4.1% in June.

Such a jobs report would be considered a "Just Right" labor market, said Tom Essaye, founder of Sevens Report Research. It would "further push back on growing tariff-relatedrecession concerns, keep the Fed on track for a rate cut in September and further invalidate the stagflation narrative." It also would provide stocks with a reason to extend their recent rally, he said.

Meanwhile, Trump signed an executive order confirming "reciprocal" tariffs on dozens of countries, with duties ranging from 10% to 41%, beginning in seven days. He also said goods that switch means of transport, or are transshipped, to avoid tariffs will face another 40% tax.

Starting Aug. 1, Canada will face a 35% tariff, excluding goods compliant with the Canada-U.S.-Mexico Agreement on trade. That's up from 25% previously.

Countries that are not listed in the latest order will face an additional duty of 10%, the statement said.

Earlier, Trump said he's giving Mexico another 90 days to come to a longer term agreement with the United States to avoid higher tariffs.

At 6:15 a.m. ET, futures tied to the blue-chip Dow fell -0.95%, broad S&P 500 futures slipped -0.97% and tech-heavy Nasdaq futures dropped -1.10%.

FILE PHOTO: The Wall Street entrance to the New York Stock Exchange (NYSE) is seen in New York City, U.S., November 15, 2022. REUTERS/Brendan McDermid/File PhotoCorporate news

Earnings also continue to be key in determining stock market direction. Of the 297 companies in the S&P 500 that have reported earnings through the morning of July 31, 80.8% have topped analyst expectations, according to LSEG Data and Analytics, compared with the 76% beat rate over the past four quarters.

After the market closed, Amazon and Apple -- two so-called Magnificent Seven influential, mega cap tech stocks -- reported results.

Amazon topped Wall Street estimates with its second-quarter results, but its cloud computing growth was disappointing.

In contrast, Apple exceeded second-quarter expectations, including the largest revenue jump since 2021. Sales were helped by strong 13%-plus growth in iPhone sales due to tariff-related buying and popular devices. It projected tariff costs could reach $1.1 billion in the current quarter.

Among non-Magnificent Seven stocks,

Coinbase beat second-quarter adjusted earnings per share estimates but revenues fell short.

Social media company Reddit's second-quarter results topped Wall Street forecasts. Its revenue grew 78% to $500 million, its fastest revenue growth in three years, according to the company. It also provided upbeat third-quarter guidance.

Cloudflare topped forecasts with its second-quarter results and raised its full-year profit and revenue guidance.

First Solar reported second-quarter results above analysts' expectations and raised its 2025 revenue guidance.

Stryker's second-quarter results were better than expected. The medical device maker also raised its earnings outlook for the year, with forecasts for a smaller tariff hit.

Medora Lee is a money, markets, and personal finance reporter at USA TODAY. You can reach her at [email protected] and subscribe to our free Daily Money newsletter for personal finance tips and business news every Monday through Friday morning.

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US stock futures drop as Trump imposes sweeping new tariffs

US stock futures drop as Trump imposes sweeping new tariffs Medora Lee, USA TODAY August 1, 2025 at 7:17 PM U.S. ...

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See Julie, Todd Chrisley's emotional return home in new Lifetime trailer

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See Julie, Todd Chrisley's emotional return home in new Lifetime trailer KiMi Robinson, USA TODAY August 1, 2025 at 10:00 AM After two years in federal prison, cameras are once again rolling on the Chrisleys.

- - See Julie, Todd Chrisley's emotional return home in new Lifetime trailer

KiMi Robinson, USA TODAY August 1, 2025 at 10:00 AM

After two years in federal prison, cameras are once again rolling on the Chrisleys.

On July 31, Lifetime released a five-minute trailer for "The Chrisleys: Back to Reality," a fall docuseries that shows the "Chrisley Knows Best" family members' fight for Todd and Julie Chrisley's release, followed by the former real estate moguls' return home after President Donald Trump's pardon in May.

The trailer shows Todd, wearing a "45-47" hat in honor of the two-term president, telling wife Julie: "I never thought I'd be with a dark-headed woman, but I'm willing to try it tonight."

Julie, known for her voluminous, shoulder-length blonde 'dos, is sporting natural brown locks with grown-out gray hair toward her roots in the footage of the couple reuniting with their family.

Who will be in 'The Chrisleys: Back to Reality?'

Family members from 27-year-old daughter Savannah to sons Chase, 29, and Grayson, 19, give their input throughout the upcoming series as they give talking head interviews about their family's dynamic during their parents' imprisonment.

Grandparents "Nanny" Faye Chrisley, as well as Harvey and Pam Hughes, also make appearances alongside Todd's granddaughter Chloe, whom he and Julie adopted in 2016.

One person who likely won't show up in the series is Todd's daughter, Lindsie Chrisley Campbell.

"We're no longer family. Lose our last name," Savannah says at one point, referring to her half-sister's past communication with the FBI. A screenshot of a December 2020 email shows Lindsie saying, "I'm still a victim of Todd Chrisley's harassment."

'Not going to lie': Todd Chrisley addresses Julie Chrisley's post-prison look

"With our parents gone, our household is completely divided," Savannah, who spearheaded the charge to get her parents released, says.

"We can tell this story today and then we can be done with this part of our life," Julie is heard saying off-camera.

Todd tells the cameras, "I'm looking at this as me exposing the truth, and depending on how long this interview goes, you might see more than what you bargained for."

What happened with the Chrisleys? What landed them in prison, why they were pardoned

What happened to Julie and Todd Chrisley?

On May 27, Trump called Savannah to let her know her parents were "going to be free and clean, and I hope we can do it by tomorrow."

In May, Julie and Todd Chrisley were released from their respective prisons in Lexington, Kentucky, and Pensacola, Florida. Both had served more than two years of their prison terms, which were commuted following Trump's full pardon.

In June 2022, Todd and wife Julie Chrisley, who portrayed themselves as real estate tycoons in the South on their USA Network shows, were found guilty of conspiring to defraud community banks in Atlanta out of more than $36 million. The pair was accused of running a scheme that, through fraudulent loans, defrauded the IRS and committed tax evasion. Julie Chrisley was additionally convicted of obstruction of justice and wire fraud.

Todd Chrisley was initially sentenced to 12 years in prison, while Julie Chrisley received a seven-year sentence, and both reported to their respective federal prisons in January 2023.

When is 'The Chrisleys: Back to Reality' coming out?

Todd Chrisley answers questions during a May 30, 2025, press conference at Nashville's Kimpton Aertson Hotel with daughter Savannah Chrisley (left) a day after he was released from prison following a full pardon from President Donald Trump.

"The Chrisleys: Back to Reality" will have a two-part premiere, with each episode lasting two hours.

The first part will air at 8 p.m. ET Sept. 1, followed by the second half at 8 p.m. ET Sept. 2.

The rest of the episodes air weekly on Tuesdays, from Sept. 9-16, at 8 p.m. ET.

This article originally appeared on USA TODAY: Julie, Todd Chrisley reunite in trailer for new Lifetime show

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Stanton and Rice hit early homers as Yankees beat Rays 7-4 on busy trade-deadline day

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Stanton and Rice hit early homers as Yankees beat Rays 74 on busy tradedeadline day LARRY FLEISHER August 1, 2025 at 6:35 AM 1 / 5Rays Yankees BaseballNew York Yankees' Giancarlo Stanton reacts after hitting a home run in the first inning of a baseball game against the Tampa Bay Rays, Thursday, July...

- - Stanton and Rice hit early homers as Yankees beat Rays 7-4 on busy trade-deadline day

LARRY FLEISHER August 1, 2025 at 6:35 AM

1 / 5Rays Yankees BaseballNew York Yankees' Giancarlo Stanton reacts after hitting a home run in the first inning of a baseball game against the Tampa Bay Rays, Thursday, July 31, 2025, in New York. (AP Photo/Heather Khalifa)

NEW YORK (AP) — Giancarlo Stanton and Ben Rice homered in the first two innings and the New York Yankees beat the Tampa Bay Rays 7-4 in a game interrupted by rain for nearly three hours Thursday.

On a busy trade-deadline day, the Yankees made a flurry of moves highlighted by the acquisition of two-time All-Star reliever David Bednar from Pittsburgh for three minor leaguers.

Tampa Bay, also active at the deadline, lost three starters to injury during the game.

Stanton hit his eighth homer since returning from tendinitis in both elbows last month for a 3-0 lead against starter Ryan Pepiot (6-9) four batters in. Rice launched a three-run shot into the Yankees' bullpen in right-center to make it 6-0.

New York starter Marcus Stroman (3-3) allowed four runs and six hits in five innings. Yerry de los Santos struck out five in three perfect innings, then was optioned to Triple-A Scranton/Wilkes-Barre after the game.

Jonathan Loáisiga got three outs for his first save since 2022.

Cody Bellinger hit an RBI single ahead of Stanton's two-run homer. Yankees newcomer Austin Slater had an RBI groundout in the third, and New York won for the fourth time in five games since putting Aaron Judge on the injured list.

Stroman did not allow a hit until the fourth, when the Rays scored four times. Jonathan Aranda and Jonny DeLuca hit RBI singles, Taylor Walls had an RBI double and Junior Caminero lifted a sacrifice fly.

Pepiot was tagged for seven runs and six hits in four innings.

Key moment

Stanton homered after Walls lost a popup by Paul Goldschmidt in the wind and the ball dropped behind in shallow left field for a double.

Key stats

Rice has seven homers in 21 starts as a leadoff hitter.

Up next

Yankees LHP Carlos Rodón (11-7, 3.18 ERA) opens a three-game series in Miami against the Marlins on Friday.

Rays RHP Shane Baz (8-7, 4.61 ERA) faces LHP Clayton Kershaw (4-2, 3.62) and the visiting Dodgers in the opener of a three-game series Friday.

___

AP MLB: https://ift.tt/BySd495

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Stanton and Rice hit early homers as Yankees beat Rays 7-4 on busy trade-deadline day

Stanton and Rice hit early homers as Yankees beat Rays 74 on busy tradedeadline day LARRY FLEISHER August 1, 2025 ...

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MLB pitcher's barking dog credited with a save at home and a thwarted break-in

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MLB pitcher's barking dog credited with a save at home and a thwarted breakin Jonathan Lloyd, NBC Los AngelesAugust 1, 2025 at 9:03 AM Los Angeles Dodgers pitcher Yoshinobu Yamamoto throws to the Oakland Athletics in Los Angeles on May 14.

- - MLB pitcher's barking dog credited with a save at home and a thwarted break-in

Jonathan Lloyd, NBC Los AngelesAugust 1, 2025 at 9:03 AM

Los Angeles Dodgers pitcher Yoshinobu Yamamoto throws to the Oakland Athletics in Los Angeles on May 14. (Jayne Kamin-Oncea / AP file)

LOS ANGELES — It appears Yoshinobu Yamamoto's dog helped keep things safe at home when the Los Angeles Dodgers pitcher was on a road trip.

The dog's loud barking and a staff member who turned on lights likely helped thwart a burglary attempt early Wednesday morning at the Dodgers phenom's Hollywood Hills home, law enforcement told NBC Los Angeles' NBC4 Investigates. Three people jumped over the back fence at about 5:30 a.m. and broke a rear glass door but never entered the residence, authorities said.

Nothing was taken.

An aerial view of Yoshinobu Yamamoto's backyard shows his dog. (NBC Los Angeles)

Staff members were home at the time and turned on the lights. Coupled with aggressive barking from Yamamoto's dog, the would-be thieves turned tail, law enforcement told NBC4 Investigates on Thursday. Someone at the home called a private security member, who then called police.

Video from NewsChopper4 showed the dog by the pool at the home later Wednesday morning. In an interview with Spectrum Sports, Yamamoto said he adopted the dog from an animal shelter.

"Since I was a kid, I always loved animals because my mom used to work at the veterinary clinic," Yamamoto said through an interpreter in the interview earlier this year. "Last year, while I was on the IL [injured list], my mom visited me in L.A. She wanted to visit the animal shelter, so we went there and I fell in love with my dog. So, I adopted him."

A private security team member was at the scene in an unmarked car. Authorities are trying to determine how the intruders bypassed the officer.

Police told NBC4 Investigates that anyone hiring private security should have them in a marked vehicle to provide a visual deterrent.

No arrests were reported, but law enforcement sources said three people were seen on security camera video. Police, who are looking at security camera video, are trying to determine whether the crime is connected to one of the many burglary crews operating in Los Angeles.

The Dodgers were wrapping up a series Wednesday against the Reds in Cincinnati.

Yamamoto, 26, of Japan, is 9-7 with a 2.63 ERA this season. He pitched seven innings Monday, giving up just four hits and striking out nine in the Dodgers' 5-2 win.

The attempted burglary is the latest crime targeting the homes of professional athletes in Los Angeles and across the country. Dodgers, Rams and LAFC players have all been recent targets.

Break-ins were reported at the homes of Dodgers infielders Max Muncy and Freddie Freeman in 2023. A burglary was reported at the Los Angeles home of LAFC striker Olivier Giroud in February.

In December, the FBI issued a warning to pro sports leagues about athletes' displaying valuables on social media. The best-practices memo, part of standard practice of communicating with businesses and companies about relevant crime trends, urged athletes to limit images of valuables on social media.

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MLB pitcher's barking dog credited with a save at home and a thwarted break-in

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NFL world reacts to virtual measurement system's debut at Hall of Fame Game

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NFL world reacts to virtual measurement system's debut at Hall of Fame Game Jacob Camenker, USA TODAY August 1, 2025 at 10:02 AM Move over, chain gang.

- - NFL world reacts to virtual measurement system's debut at Hall of Fame Game

Jacob Camenker, USA TODAY August 1, 2025 at 10:02 AM

Move over, chain gang. A new measurement system has been introduced to the NFL, and fans got their first glimpse of it during Thursday's preseason game between the Detroit Lions and the Los Angeles Chargers.

The NFL's virtual measurement system debuted during the first half of the Hall of Fame Game after a 10-yard run by Lions running back Craig Reynolds.

Rather than having the chain gang run out to the field, the officials simply waited for the virtual measurement system to calculate whether the veteran running back had made the line to gain.

Below is a look at how the process played out:

Introducing the new virtual measurement system for first downs, which allows the NFL to accurately and efficiently measure the distance between the spotted ball and the line to gain. pic.twitter.com/QvlsSmWnSo

— NFL (@NFL) August 1, 2025

The virtual measurement was handled efficiently and didn't disrupt the flow of the game. That left several prominent NFL voices impressed with the process and optimistic it will serve as a quality replacement for the chain gang, which remains on the sideline in case of an emergency.

The virtual measurement reveal is the hottest thing I've ever seen

— Benjamin Solak (@BenjaminSolak) August 1, 2025

Virtual measurement is ELECTRIC 🔥 pic.twitter.com/TCE9OkYHeI

— DraftKings (@DraftKings) August 1, 2025

Virtual measurement! So sick.

— Jake Marsh (@JakeMarsh18) August 1, 2025

turn me on with 5 words:"timeout for a virtual measurement"

— Warren Sharp (@SharpFootball) August 1, 2025

We tested the virtual measurement system during a @RamsNFL preseason game last summer at SoFi. It worked well. Easy integration into the broadcast.

— Andrew Siciliano (@AndrewSiciliano) August 1, 2025

However, a smaller cohort was reluctant to trust the new protocol. Others joked the process would be less aesthetically appealing than watching the chain gang determine whether a player generated a first down.

I really don't know how to feel about this…It's the new virtual measurement system for first downs….give me chain gang all day.pic.twitter.com/rmgpanmELN

— Chase Daniel (@ChaseDaniel) August 1, 2025

The new new virtual measurement system for first downs will never be as advanced as this pic.twitter.com/n2snKaXXf0

— NFL Memes (@NFLHateMemes) August 1, 2025

"Timeout for a virtual measurement" pic.twitter.com/JbxvkZnDId

— betr (@betr) August 1, 2025

As long as the NFL's virtual measurement process remains efficient, the league will probably not have too many regrets about switching to it as the primary method for measuring first downs.

This article originally appeared on USA TODAY: NFL world reacts to virtual measurement system replacing chain gang

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NFL world reacts to virtual measurement system's debut at Hall of Fame Game

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Apple revenue forecast beats estimates, tariff costs projected at $1.1 billion

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Apple revenue forecast beats estimates, tariff costs projected at $1.1 billion Stephen Nellis and Akash SriramJuly 31, 2025 at 3:30 PM By Stephen Nellis and Akash Sriram SAN FRANCISCO (Reuters) Apple forecast revenue for the current quarter ending in September well above Wall Street's estimates on T...

- - Apple revenue forecast beats estimates, tariff costs projected at $1.1 billion

Stephen Nellis and Akash SriramJuly 31, 2025 at 3:30 PM

By Stephen Nellis and Akash Sriram

SAN FRANCISCO (Reuters) -Apple forecast revenue for the current quarter ending in September well above Wall Street's estimates on Thursday, sending shares up despite a warning from CEO Tim Cook that U.S. tariffs would add $1.1 billion in costs over the period.

As the centerpiece of U.S. President Donald Trump's trade war, those tariffs cost Apple $800 million in the June quarter and spurred some customers to buy iPhones in late spring this year. Those purchases helped Apple's fiscal third-quarter sales beat expectations by the biggest percentage in at least four years, according to LSEG.

The company still forecast growth, though, with Chief Financial Officer Kevan Parekh saying the company expects revenue growth for the current quarter in the "mid to high single digits," which would exceed the 3.27% growth to $98.04 billion that analysts expected, according to LSEG data.

Apple reported $94.04 billion in revenue for its fiscal third quarter ended on June 28, up nearly 10% from a year earlier and beating analyst expectations of $89.54 billion, according to LSEG data. Its earnings per share of $1.57 topped expectations for $1.43 per share.

Apple shares were up 3% in after-hours trading, extending gains after Apple provided its forecast.

Sales of iPhones, the best-selling product for the company based in Cupertino, California, were up 13.5% to $44.58 billion, beating analyst expectations of $40.22 billion.

Apple has been shifting production of products bound for the U.S., sourcing iPhones from India and other products such as Macs and Apple Watches from Vietnam.

The ultimate tariff rates many Apple products could face remain in flux, and many of its products are currently exempt. Sales in its Americas segment, which includes the U.S. and could face tariff impacts, rose 9.3% to $41.2 billion.

In Greater China, where Apple has faced long delays in approval to introduce AI features on its devices, sales were $15.37 billion, up from a year ago and above expectations of $15.12 billion, according to a survey of five analysts from data firm Visible Alpha.

That gain was a turnaround from a year-over-year decline in China sales in the March quarter.

In a conference call with analysts, Cook said some of that was due to a subsidy program in China to help revive the smartphone market, which boosted some of Apple's products.

"It was the first full quarter of the subsidy playing out," Cook told analysts.

In an interview with Reuters, Cook said the company set seasonal records for upgrades of iPhones, Macs and Apple Watches. He said Apple estimates about 1 percentage point of its 9.6% of sales growth in the quarter was attributable to customers making purchases ahead of potential tariffs.

"We saw evidence in the early part of the quarter, specifically, of some pull-ahead related to the tariff announcements," Cook told Reuters, though he also said the active user base for iPhones hit a record high in all geographies.

The U.S. is still negotiating with both China and India, with Trump saying India could face 25% tariffs as early as Friday. However, analysts said India could still retain cost advantages for Apple in the longer term.

"The pull-forward in demand due to tariffs was somewhat expected given the uncertainty around pricing. However, it's important to put this in context as this is typically a slow quarter for Apple, yet they still delivered exceptional results with iPhone growth," Emarketer analyst Jacob Bourne said.

Tariffs are only one of Apple's challenges. The company faces competition from rivals such as Samsung Electronics Co in a tough market for premium-priced mobile phones. On the software front, Apple faces challenges from Alphabet, which is quickly weaving AI features into its competing Android operating system.

While AI leaders Microsoft and Nvidia have seen their stock market values soar to record highs, Apple's shares have fallen 17% in 2025, with investors concerned about the impact of tariffs, and about what they view as slow progress integrating AI features into its products.

Apple has delayed the release of an AI-enriched version of Siri, its virtual assistant, but Cook said the company is "making good progress on a personalized Siri." He also said Apple, which has thus far not engaged in the massive capital expenditures of its Big Tech rivals to pursue AI, is "significantly growing" its investments in artificial intelligence.

"Apple has always been about taking the most advanced technologies and making them easy to use and accessible for everyone, and that's at the heart of our AI strategy," Cook said.

Apple faces regulatory rulings in Europe that threaten to undermine its lucrative App Store business. Apple said sales from its services business, which includes the App Store as well as music and cloud storage, were $27.42 billion, topping analyst expectations of $26.8 billion.

Sales of wearables such as AirPods and Apple Watches were $7.4 billion, missing estimates of $7.82 billion. Mac sales of $8.05 billion beat expectations of $7.26 billion, while iPads hit $6.58 billion in sales, missing expectations of $7.24 billion.

Apple said gross margins were 46.5% in the fiscal third quarter, beating analyst expectations of 45.9%, according to LSEG estimates. The company forecast gross margins for the current quarter of 46% to 47%, with the entire range above estimates of 45.9%, according to LSEG data.

(Reporting by Stephen Nellis in San FranciscoEditing by Noel Randewich, Rod Nickel and Tom Hogue)

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Some companies held off on price hikes as Trump delayed tariffs. That ends soon.

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Some companies held off on price hikes as Trump delayed tariffs. That ends soon. Emily LorschJuly 31, 2025 at 5:38 PM Companies behind the bestknown brands are sounding the alarm: Prices are going up.

- - Some companies held off on price hikes as Trump delayed tariffs. That ends soon.

Emily LorschJuly 31, 2025 at 5:38 PM

Companies behind the best-known brands are sounding the alarm: Prices are going up.

Hershey, Procter & Gamble and Mondelēz have said price adjustments will soon start showing up on store shelves. For shoppers, that could mean higher prices for popular items like Bounty paper towels, Reese's Peanut Butter Cups and Clif Bars.

Numerous companies told analysts and investors on recent earnings calls that higher tariffs are going to hike costs. In many cases, that will translate to higher prices for consumers.

Concerns about inflation persist even though price growth has come down considerably from its heights during the Biden administration. On Thursday, the Federal Reserve's favorite inflation gauge climbed more than expected. The personal consumption expenditures price index, a measure of consumer spending on goods and services, rose 2.6% from a year ago. Analysts were expecting a rise of 2.5%.

Experts have warned that elevated tariffs would mean higher prices on consumers, but President Donald Trump's delays mean some of the most expansive and aggressive tariffs have yet to be implemented.

That changes Friday, when Trump's reworked global tariffs take effect after he suspended them in mid-April. Some are as high as 50% for countries like Brazil, while others are 15% to 30% for the European Union and countries like South Korea, Japan and India.

Proceeds from tariffs that Trump has already implemented are indeed bringing in additional revenue to the U.S. Treasury. In June, $27.2 billion landed into its coffers. In May, it was $22.8 billion.

And Trump and his administiration have stressed that tariffs can bring jobs back to the U.S. while generating revenue that can pay down the U.S. debt or end up in taxpayers' pockets.

"President Trump's tariff policies have drawn historic investments and opened up global markets for U.S. businesses," Commerce Secretary Howard Lutnick posted Wednesday on X.

Trump has also announced deals with a handful of major U.S. trading partners including South Korea, Pakistan, the E.U., Indonesia, the Philippines and Japan, though details of some of the deals remain largely unknown.

In North America, Procter & Gamble recently announced price adjustments on about 25% of its products, which will go into effect in the next few months. It said the average increase will be roughly 2.5%, broadly in line with overall inflation.

"These adjustments reflect a mix of factors, including higher raw-material and supply-chain costs, investments in product innovation and the impact of recently announced tariffs," a spokesperson said.

The global snacking giant Mondelēz, which is behind brands such as Oreo and Ritz, also announced incremental pricing to take effect in the coming months.

"We are clearly at a point in time where we see inflation going up," Chief Financial Officer Luca Zaramella said.

Zaramella said the price of raw materials is rising, especially as it relates to cocoa.

Hershey, too, is seeing the effects of the spike in its essential ingredient. It said in a statement that its price adjustment with retail customers is not related to tariffs or trade policies but instead reflects "the reality of rising ingredient costs including the unprecedented cost of cocoa."

Cocoa prices have skyrocketed more than 165% over the last two years.

For years, "we've worked hard to absorb these costs and continue to make 75% of our product portfolio available to consumers for under $4.00, ensuring that Hershey treats stay accessible and affordable for families everywhere," the company said.

The apparel sector is also feeling the pressure and warning of price hikes. The German sportswear giant Adidas said Wednesday that it might have to raise prices, in the United States only, because of the significant impact tariffs will have on the company's cost of U.S. goods. Adidas reported tariffs would add around 200 million euros ($231 million) in costs in the second half of this year.

"What we can say is we will not be the price leaders. We will move slowly and see what is happening in the market," CEO Bjørn Gulden said on an earnings call.

Many more companies are also reporting dented profits due to Trump's tariffs.

On Tuesday, Stanley Black & Decker said it expects to incur an $800 million annualized impact from policy changes that are tied to tariffs. And Conagra Brands said tariffs are likely to raise costs of goods sold by 3%, which would be an annual increase of more than $200 million, according to its CEO, Sean Connolly.

The auto industry seems to be making adjustments, as well. Elon Musk's Tesla said costs as a result of tariffs have increased about $300 million, and General Motors said earnings before interest and taxes in this most recent quarter dropped by $1.1 billion, which it attributed to tariffs.

Ford said Wednesday that it sees up to a $3 billion impact from tariffs but expects to be able to offset $1 billion of that.

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Some companies held off on price hikes as Trump delayed tariffs. That ends soon.

Some companies held off on price hikes as Trump delayed tariffs. That ends soon. Emily LorschJuly 31, 2025 at 5:3...

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