ExclusiveUPS Cuts 20,000 Jobs, GM Delays Investor Call as Tariffs Create Uncertainty

President Donald Trump's trade war continued to reverberate through the corporate world on Tuesday as UPS said it would cut 20,000 jobs to lower costs and automaker GM pulled its outlook and delayed its investor call by two days pending possible changes to U.S. trade policy. The moves are further evidence of how Trump's chaotic trade policy is taking a major toll on companies' ability to plan beyond the near term. According to a Reuters analysis, about 40 companies worldwide have pulled or lowered their forward guidance this first quarter earnings season. They include American ketchup maker Kraft Heinz, Swedish appliances maker Electrolux, and automaker Volvo, all of which have either slashed their 2025 outlooks or abandoned them altogether. Treasury Secretary Scott Besant on Tuesday tried to reassure consumers and investors by noting that Trump would announce cuts to planned auto parts tariffs to avoid double duties on parts and materials. He also touted the administration's plans to cut taxes and reduce regulation to boost confidence. The tax bill is moving forward. It is going to give permanence to the 2017 Tax Cuts and Job Act, which will back to the question on certainty. It will give American business certainty. It will give American people certainty. But executives are increasingly alarmed over how Trump's vacillating trade policies have sapped consumer and business sentiment, raising fears that even if tariffs are rolled back substantially, the damage done will not be easily reversed. The turmoil led UPS CEO Carol Tomei to say on her company's earnings call Tuesday that