The company I was working for back in 2018 canceled Christmas bonuses. The only time they ever did so in their 40+ year history. Other than some bullshit platitudes from upper management about how everyone in the company has to make sacrifices that year, it was never explicitly said why. Some of us suspected it had to do with the tariffs at the time, since we import a lot of steel.

This, however, seems a bit too on the nose. I feel like management would never come out and straight up blame the tariffs like they are here.