00:00 Speaker A
Well, we’re watching for all the tariff mentions this earnings season. Let’s recap some of the latest from this week. We got Ford, Crocs, and Mattel, all updating investors on their guidance this week. Let’s start with Ford. Ford Motor suspending its annual guidance on Monday because of uncertainty around President Trump’s tariffs. The automaker saying that the levies would cost the company about $1.5 billion. Ford CEO Jim Farley saying on the call that quote, it’s still too early to fully understand our competitors’ responses to these tariffs. It is clear, however, that in this new environment, automakers with the largest U.S. footprint will have a big advantage. Stepping into Crocs, the company withdrawing its full-year outlook with consumer behavior remaining uncertain amid the tariff policies. The company highlighting the anticipated sourcing mix in 2025 with Vietnam shouldering almost half the load. Now, for context, Trump’s so-called Liberation Day tariff on Vietnam, remember, was 46%. That was later suspended for 90 days to allow time for trade talks is at that universal base of 10%. And taking a look at toys, Mattel pausing its full-year 2025 guidance citing, you guessed it, tariffs. The Mattel CEO saying on the earnings call that quote, given the volatile macroeconomic environment and evolving U.S. tariff situation, it is hard to predict consumer spending. So, the drum beat goes on.