Baker Hughes flags tariff impact on full-year core profit
U.S. President Donald Trump's trade policy has heightened uncertainty in the energy industry, as the ensuing trade war is expected to curb global economic growth and, subsequently, demand for energy. The company said the estimated impact is based on tariff rates applied during the 90-day pause and does not account for the potential hit of retaliatory tariffs or other levies that are not currently in place. However, Baker Hughes beat Wall Street estimates for first-quarter profit helped by robust demand for natural gas technology.