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The 4 industries worst hit by tariffs so far
Yahoo Financeยท 2025-09-19 18:56
Consumer Goods Sector - Consumer goods companies have been the worst affected by tariffs, with 42 companies reporting price hikes, 39 withdrawing or cutting guidance, and 18 taking a financial hit in the first quarter [3] - Consumer prices are expected to rise by 1.8% in the short run, equating to an average household income loss of $2,400, with apparel and footwear seeing the steepest hikes [4] - Price increases for leather products are projected at approximately 39%, 37% for apparel, and 21% for textiles [4] Automotive Sector - Motor vehicle prices are expected to rise by 12.4%, adding approximately $6,000 to the price of an average 2024 new car [5] - In the automotive sector, 18 companies withdrew or cut guidance, and 14 took a financial hit in the first quarter, with Tesla and General Motors being the most affected [6] - The auto industry is impacted by a 25% tariff on vehicle and auto parts imports, as well as a 50% tariff on steel and aluminum, affecting various auto components [7]