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Caterpillar Erases Gains Despite Strong Quarterly Results and Raised Forecast

Anders Keitz

"We expect steel and other commodity costs to be a headwind all year," Chief Financial Officer Bradley Halverson said during the conference call. "Price versus material costs were very favorable on the first quarter," Amy Campbell, director of investor relations at Caterpillar, said during the call. President Donald Trump recently announced plans to implement a 25% tariff on steel imports and a 10% tariff on aluminum, although imports from some countries have been exempted.