July 22 (Reuters) - Packaging products maker Avery

Dennison forecast third-quarter earnings below Wall

Street expectations on Tuesday, as uncertainty from U.S.

President Donald Trump's fluctuating tariff policy mounts.

The Trump-led trade war has stoked inflationary

challenges, causing an increase in raw material costs, while

concerns around growth have made consumers cautious, which in

turn has hurt demand for all industries, including packaging.

Avery, which caters to customers as diverse as retail giant

Walmart ( WMT ) and Spanish soccer club Real Madrid, switched

its full-year forecast with a quarterly outlook during the first

quarter, citing macroeconomic uncertainty.

"While trade policy changes led to lower sourcing demand for

apparel and general retail categories in the quarter, growth in

our high-value categories and productivity in the base business

offset the impact from tariffs," said Deon Stander, CEO.

Avery said it realized about $30 million in pre-tax savings

from restructuring, net of transition costs during the first

half of the year, and incurred roughly $13 million in pre-tax

restructuring charges.

The Ohio-based firm, expects its third-quarter adjusted

profit per share to be between $2.24 and $2.40, compared with

the average of analysts' estimates of $2.41, according to data

compiled by LSEG.

For the second quarter, it posted an adjusted profit of

$2.42 per share, flat from a year earlier.

The overall second-quarter revenue fell nearly 1% to $2.22

billion from a year earlier.