Despite tweets from President Donald Trump with such claims as “Tariffs are the greatest!” a growing number of companies are starting to feel the burden of the White House’s trade war.

Dealing with the fallout from the president's tough trade tactics is dominating the conference calls company executives typically hold following the release of their earnings results. Tariffs have been mentioned in some form on more than 40 percent of the 146 S&P 500 companies that have already reported second-quarter earnings this season.

In an effort to track corporate America's thoughts on the growing trade dispute, CNBC is amassing statements from earnings calls that involve discussion on the new taxes on foreign goods. The impact seems heavily tilted toward the industrials sector.

New U.S. tariffs on steel and aluminum, for instance, appear to be sending shock waves throughout the economy with mixed effect.