Group 1: Company Earnings and Guidance Adjustments - Amazon warned that "tariffs and trade policies" may complicate its future results, citing "inherently unpredictable" outcomes due to global economic and geopolitical conditions [1] - General Motors lowered its earnings forecast for 2025 to between $10 billion and $12.5 billion, down from $13.7 billion to $15.7 billion, due to the "new trade policy environment" [2] - McDonald's reported a 3.6% decline in U.S. same-store sales, the largest decrease since 2020, attributing it to consumer uncertainty [2] - Stellantis suspended its full-year financial guidance for 2025 due to "tariff-related uncertainties" [2] - Mercedes pulled its full-year outlook for 2025, citing high volatility regarding tariff policies [2] - UPS withdrew its full-year guidance after previously forecasting revenue of $89 billion for 2025, citing "current macro-economic uncertainty" [2] - Kraft Heinz lowered its full-year outlook due to a volatile operating environment and macro-economic pressures [3] - JetBlue pulled its full-year outlook for 2025 because of macroeconomic uncertainty [3] - Snap declined to issue guidance for its second quarter due to uncertainty in advertising demand [4] - PepsiCo lowered its earnings forecast for 2025, expecting higher supply chain costs due to tariffs and macroeconomic volatility [5] - Procter & Gamble lowered its sales growth projections for the year, citing a challenging consumer environment [5] - American Airlines pulled its full-year guidance, indicating significant weakness in demand due to economic uncertainty worsened by tariffs [6] - Thermo Fisher Scientific withdrew its full-year profit forecast, expecting a $400 million hit in sales to China due to tariffs [7] - Chipotle lowered its full-year same-store sales growth expectations, anticipating reduced consumer spending [8] - Delta pulled its full-year guidance due to broad macro uncertainty [9] Group 2: Employment and Layoffs - Several companies, including Mack Trucks and Volvo Group, announced layoffs totaling 800 employees, citing market uncertainty and the impact of tariffs [10] - Stellantis and Estée Lauder also announced layoffs related to tariff impacts [10] - Goldman Sachs noted that while Trump's tariffs might create about 100,000 manufacturing jobs, they could also lead to the loss of up to 500,000 jobs across all industries [10] Group 3: Tariff Policy Context - Trump's tariffs were implemented during a recent trade policy shift, with a 90-day pause announced but a baseline 10% remaining, and China facing 145% tariffs [11] - Industry leaders, including Ford's CEO, warned that tariffs could significantly harm the U.S. industry [11] - The administration aims to "rebalance global trade" through tariff negotiations, seeking a balanced and fair global trade system [12]