Kimberly-Clark is close to selling its global consumer tissue business to Suzano for $3.5 billion.

Insiders say that Kimberly-Clark is set to sell its Kleenex and tissue business outside of North America to Brazilian pulp manufacturer Suzano for around $3.5 billion. The deal could be completed as early as Thursday. The wide-ranging trade tariffs imposed by US President Donald Trump have put pressure on Kimberly-Clark's business prospects, prompting the company to pursue the sale. The consumer goods company lowered its annual profit forecast in April due to increased costs from tariffs.