💨 Abstract

UPS plans to cut 20,000 jobs due to rising costs from the trade war. GM and Volvo Cars have pulled their outlooks due to potential changes in trade policy. Over 40 companies worldwide have either lowered or withdrawn their forecasts, highlighting the impact of trade uncertainty on corporate planning. GM and other companies warn of potential significant impact from tariffs. Consumer spending is decreasing due to uncertainty, raising concerns about a possible economic downturn.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖