The CEOs of American Airlines, PepsiCo, Procter & Gamble and many other major U.S. companies warned that shape-shifting tariff threats make it virtually impossible to plan and are spooking consumers.

American, Southwest Airlines and Alaska Air Group told investors and analysts that leisure travel had already softened and pulled their full-year outlooks because the economic climate makes it too tough to forecast. Procter & Gamble, the maker of Pampers diapers and Tide detergent, said it was considering raising prices on some items. And auto-industry groups representing General Motors, Volkswagen and Toyota sent a letter to President Trump imploring him to reconsider the 25% tariff on car parts that goes into effect May 3, because it will make buying and repairing cars and trucks more expensive.