3M Cuts 2025 Profit Forecast Amid Trade Tensions
U.S. industrial conglomerate 3M Co cut its forecast for 2025 profit on Tuesday as tariff tensions mount.
Global trade tensions have heightened since China imposed a 125% tariff on U.S. imports, retaliating against President Donald Trump's decision to raise tariffs for Chinese imports to 145%.
The St. Paul, Minnesota-based company now expects a tariff-related negative impact of $0.20 to $0.40 per share on its full-year adjusted profit forecast of $7.60 to $7.90.
The company's adjusted net sales for the first quarter came in at $5.8 billion, down nearly 25% from $7.72 billion a year earlier.
Shares of 3M fell over 1% after earnings report.
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