Tariffs and trade barriers
190 of 521 companies added a paragraph in Risk Factors that uses one of these words:
tariff, tariffs, trade war, import duties, customs duties, export controls.
The paragraph is in the latest 10-K and nothing like it was in the one before.
It counts text; it does not say how serious a risk is. Words in capitals only (such as AI) must be in capitals.
By sector
Sector is the SEC's industry description of the company. Each count opens that sector's quotes below.
| Sector | Companies | Compared |
|---|---|---|
| Arrangement of Transportation of Freight & Cargo | 2 | 2 |
| Cutlery, Handtools & General Hardware | 2 | 2 |
| Instruments For Meas & Testing of Electricity & Elec Signals | 2 | 2 |
| Optical Instruments & Lenses | 2 | 2 |
| Aircraft | 1 | 1 |
| Aircraft & Parts | 1 | 1 |
| Apparel & Other Finishd Prods of Fabrics & Similar Matl | 1 | 1 |
| Canned, Fruits, Veg, Preserves, Jams & Jellies | 1 | 1 |
| Communications Equipment, NEC | 1 | 1 |
| Communications Services, NEC | 1 | 1 |
| Electromedical & Electrotherapeutic Apparatus | 1 | 1 |
| Engines & Turbines | 1 | 1 |
| Farm Machinery & Equipment | 1 | 1 |
| Gas & Other Services Combined | 1 | 1 |
| General Industrial Machinery & Equipment, NEC | 1 | 1 |
| Grain Mill Products | 1 | 1 |
| Guided Missiles & Space Vehicles & Parts | 1 | 1 |
| Heavy Construction Other Than Bldg Const - Contractors | 1 | 1 |
| Leather & Leather Products | 1 | 1 |
| Meat Packing Plants | 1 | 1 |
| Metal Mining | 1 | 1 |
| Misc Industrial & Commercial Machinery & Equipment | 1 | 1 |
| Miscellaneous Food Preparations & Kindred Products | 1 | 1 |
| Oil & Gas Field Machinery & Equipment | 1 | 1 |
| Ophthalmic Goods | 1 | 1 |
| Ordnance & Accessories, (No Vehicles/Guided Missiles) | 1 | 1 |
| Paper Mills | 1 | 1 |
| Poultry Slaughtering and Processing | 1 | 1 |
| Radiotelephone Communications | 1 | 1 |
| Retail-Eating & Drinking Places | 1 | 1 |
| Retail-Home Furniture, Furnishings & Equipment Stores | 1 | 1 |
| Retail-Radio, Tv & Consumer Electronics Stores | 1 | 1 |
| Services-Detective, Guard & Armored Car Services | 1 | 1 |
| Services-Engineering, Accounting, Research, Management | 1 | 1 |
| Services-Misc Health & Allied Services, NEC | 1 | 1 |
| Special Industry Machinery, NEC | 1 | 1 |
| Telephone & Telegraph Apparatus | 1 | 1 |
| Television Broadcasting Stations | 1 | 1 |
| Wholesale-Motor Vehicle Supplies & New Parts | 1 | 1 |
| Biological Products, (No Diagnostic Substances) | 4 | 5 |
| Laboratory Analytical Instruments | 4 | 5 |
| Semiconductors & Related Devices | 11 | 15 |
| Computer & office Equipment | 2 | 3 |
| Computer Communications Equipment | 2 | 3 |
| Electronic Computers | 2 | 3 |
| Measuring & Controlling Devices, NEC | 2 | 3 |
| Natural Gas Transmission | 2 | 3 |
| Plastic Materials, Synth Resins & Nonvulcan Elastomers | 2 | 3 |
| Services-Consumer Credit Reporting, Collection Agencies | 2 | 3 |
| Wholesale-Drugs, Proprietaries & Druggists' Sundries | 2 | 3 |
| Pharmaceutical Preparations | 7 | 11 |
| Industrial Instruments For Measurement, Display, and Control | 3 | 5 |
| Orthopedic, Prosthetic & Surgical Appliances & Supplies | 3 | 5 |
| Finance Services | 15 | 28 |
| Services-Business Services, NEC | 8 | 16 |
| Motor Vehicles & Passenger Car Bodies | 2 | 4 |
| Retail-Eating Places | 2 | 4 |
| Search, Detection, Navigation, Guidance, Aeronautical Sys | 2 | 4 |
| Security & Commodity Brokers, Dealers, Exchanges & Services | 2 | 4 |
| Agricultural Chemicals | 1 | 2 |
| Aircraft Engines & Engine Parts | 1 | 2 |
| Fats & Oils | 1 | 2 |
| Industrial Organic Chemicals | 1 | 2 |
| Men's & Boys' Furnishgs, Work Clothg, & Allied Garments | 1 | 2 |
| Paperboard Containers & Boxes | 1 | 2 |
| Printed Circuit Boards | 1 | 2 |
| Rubber & Plastics Footwear | 1 | 2 |
| Services-General Medical & Surgical Hospitals, NEC | 1 | 2 |
| Services-Medical Laboratories | 1 | 2 |
| Services-To Dwellings & Other Buildings | 1 | 2 |
| Telephone Communications (No Radiotelephone) | 1 | 2 |
| Trucking (No Local) | 1 | 2 |
| Beverages | 2 | 5 |
| Computer Storage Devices | 2 | 5 |
| Retail-Variety Stores | 2 | 5 |
| Services-Computer Programming, Data Processing, Etc. | 2 | 5 |
| Investment Advice | 3 | 8 |
| National Commercial Banks | 4 | 11 |
| Electric Services | 5 | 15 |
| Electric & Other Services Combined | 4 | 12 |
| Air-Cond & Warm Air Heatg Equip & Comm & Indl Refrig Equip | 1 | 3 |
| Electrical Work | 1 | 3 |
| General Industrial Machinery & Equipment | 1 | 3 |
| Life Insurance | 1 | 3 |
| Perfumes, Cosmetics & Other Toilet Preparations | 1 | 3 |
| Services-Commercial Physical & Biological Research | 1 | 3 |
| Services-Computer Integrated Systems Design | 1 | 3 |
| Surgical & Medical Instruments & Apparatus | 3 | 10 |
| Real Estate Investment Trusts | 8 | 27 |
| Crude Petroleum & Natural Gas | 2 | 7 |
| Fire, Marine & Casualty Insurance | 3 | 12 |
| Electronic & Other Electrical Equipment (No Computer Equip) | 1 | 4 |
| Services-Prepackaged Software | 4 | 19 |
| Petroleum Refining | 1 | 6 |
| State Commercial Banks | 1 | 6 |
| Security Brokers, Dealers & Flotation Companies | 1 | 7 |
454 paragraphs · Aircraft Engines & Engine Parts show all sectors
In addition, the Company and each of its businesses has been, and may continue to be, negatively affected by global macroeconomic conditions, including the impacts of inflation, high interest rates, supply chain and labor disruptions, unemployment rates, geopolitical instability and regional conflicts, the adoption and expansion of, and other changes to, trade restrictions and tariffs, quotas, embargoes, and other related actions, and the occurrence or threat of a trade war or other governmental action related to tariffs or trade agreements or policies. Such factors could adversely impact, demand for our products, our costs, our customers, our suppliers, and the world and U.S. economies. The impact of such factors could have a material adverse effect on our business, operating results, cash flows, and financial condition.
Read in the 10-K filed Feb 17, 2026 ↗
The U.S. continues to implement certain trade actions, including imposing tariffs on certain goods imported from China and other countries, which has resulted in retaliatory tariffs by China and other countries. The recent changes in U.S. trade policy involving the application or increase of tariffs and the subsequent retaliatory measures against the U.S. have created a dynamic environment that may have a material adverse impact on our business. While we have deployed strategies to mitigate the impact of these dynamic trade policies, there is no assurance that we will be able to mitigate the full impact of all such tariffs, retaliatory tariffs or other trade policies that have or may develop in this rapidly changing environment. Increasing trade tensions and changes in trade policies have the potential to adversely impact our costs, the demand for our products, our supply chain and the global economy, and could result in fines and penalties or reputational harm if we are found not to be in compliance, which may have an adverse impact on our business, including operating and financial results and conditions.
Read in the 10-K filed Feb 17, 2026 ↗