The Tariff Squeeze
10 of 16 filers across 1 sector are flagging higher cost pressure. Accelerated into 2025Q2, since cooling. Consensus hardened: 2025Q2 was 69% rising; 2026Q2 now 80%. Reached 5 sectors at its 2025Q2 peak, now concentrated in 1 sector. Mixed: cost (50%), regulatory (32%), risk (16%). Recent filings describe "The direct impact of incremental tariffs incurred by us was $361 in the first quarter of 2026."
Companies across semiconductors, aerospace, and industrial equipment face material cost, supply chain, and financial headwinds from U.S. tariffs on imports and anticipated retaliatory trade measures.
DISTINCT NEW FILERS PER QUARTER
✦ WHAT THE DIFF CAUGHT
Signal distribution shifts from forward-looking risk disclosure (AMD) to concrete backward-looking enumeration (BA) and current-state tariff regimes (all three), suggesting tariff exposure has moved from hypothetical concern to operational reality requiring mitigation.
REPRESENTATIVE SIGNAL FROM FILINGS
“The direct impact of incremental tariffs incurred by us was $361 in the first quarter of 2026”
The direct impact of incremental tariffs incurred was $361 million in Q1 2026, excluding supplier and market demand effects.
“executive orders on tariffs and retaliatory trade measures, are expected to impact the pricing of our products, disrupt supply chains, and increase our costs”
Executive orders on tariffs and retaliatory trade measures are expected to impact product pricing, disrupt supply chains, and increase costs.
DRIVERS