Update: The trade war's still raging... The US reamins in tit-for-tat mode with China and Europe on international trade. And the trade taxes slapped on each other (aka tariffs) oozed out of Tuesday's serving of earnings reports.
🤬__The loser:__ Harley Davidson — Its profits dropped 27% and shares fell Tuesday.
- Europe and China targeted Harley for retaliatory tariffs because the brand is so tattoo-ably American. That made bikes more expensive to customers abroad, hurting sales.
💵__The winner:__ Whirlpool — Its profits rose 10% and shares jumped Tuesday.
- Whirlpool's American-made washing machines have an advantage on Samsung and LG's Korean-made ones. Those two had to raise prices because of US tariffs. Whirlpool didn't... but did anyway. So fewer Whirlpools were sold, but the sold ones were more profitable.
Tariffs aren't equal opportunity impacters... Most of America's economy is service-related. Apps, software, billable hours, haircuts. None of that is affected by tariffs, which hit imports and exports only. That's mainly manufacturing companies, like Harley and Whirlpool — And the impact is amplified (positively or negatively).
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