The world’s largest consumer goods groups have warned that US President Trump’s trade war is denting already fragile consumer sentiment and threatens to leave consumers dealing with a fresh round of price rises.
Food and personal care giants PepsiCo and Procter & Gamble (P&G) cut their financial outlooks for the year on Thursday as a result of tariff-related uncertainty. Meanwhile, Unilever and Nestlé said weary shoppers would have to swallow higher prices.
Pepsi, the maker of soft drinks and Doritos chips, said profits were likely to stagnate in 2025, scrapping a forecast for single-digit growth. The company blamed tariffs and economic uncertainty for a 1.8 per cent drop in sales during the first three months of the year.
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