Caterpillar Warns Tariff Impact Bigger Than Previously Seen (2)

Just three weeks after its last quarterly report, Caterpillar Inc. is warning investors it now expects tariffs to have an even greater impact on its business, costing it as much as $1.8 billion this year.

“While the company continues to take initial mitigating actions to reduce this impact, trade and tariff negotiations continue to be fluid,” the US manufacturer said Thursday in a regulatory statement.

Shares fell as much as 2.2% as of 9:31 a.m. Friday in New York.

WATCH: Caterpillar is warning investors it now expects tariffs to have an even greater impact on its business, costing it as much as $1.8 billion this year. Bloomberg Intelligence’s Chris Ciolino has more on “Bloomberg Open Interest.”

Source: Bloomberg

The company is one of the world’s biggest makers of machinery for mining and construction. Tariffs already took a ...