Corporate America’s Trump Worries Are Buried in Annual Reports

Companies are telling their investors how President Donald Trump’s plan to radically remake the US government poses new risks to their businesses.

In recent weeks, Chipotle Mexican Grill Inc. warned about potential tariffs on avocados and limes. Johnson & Johnson sees a risk that Food and Drug Administration cuts will slow down medicine approvals. And American Airlines Group Inc. alerted shareholders to possible additional charges for aircraft and parts from outside the US.

Many of these disclosures are being tucked quietly into already lengthy “risk factor” language in annual regulatory filings, at odds with the upbeat tone some executives ...