Frankfurt/Stockholm/Los Angeles | The fallout from US President Donald Trump’s trade war reverberated further through the corporate world on Tuesday (Wednesday AEST), as delivery giant UPS said it would cut 20,000 jobs to lower costs while General Motors pulled its outlook and pushed its investor call to Thursday pending possible changes to trade policy.

The Detroit automaker, along with American ketchup maker Kraft Heinz, Swedish appliances maker Electrolux, airline JetBlue Airways and other blue-chip names, on Tuesday joined the diverse list of companies that have pulled forecasts for 2025 or slashed outlooks – further evidence that Trump’s see-sawing trade policy is taking a major toll on businesses’ ability to plan beyond the immediate term.

Reuters