高盛：被迫吞下关税成本，财报季美企利润率面临重大考验

Core Viewpoint - Goldman Sachs strategists indicate that U.S. corporate profit margins are facing significant challenges in the upcoming earnings season due to the direct impact of tariffs from the trade war initiated by President Trump [1] Group 1: Tariff Impact - Tariffs have increased by approximately 10 percentage points since the beginning of the year, which will be reflected in the second quarter earnings reports [1] - While most of the increased costs are expected to be passed on to customers, there is a risk that companies may have to absorb a higher-than-expected share of these costs, putting pressure on profit margins [1] Group 2: Earnings Outlook - Preliminary performance of U.S. companies shows a mixed outlook, suggesting variability in how different sectors are responding to the tariff pressures [1]