(Reuters) – Several U.S. companies are putting in place measures to cushion the impact of escalating trade tensions between the United States and China.
The world’s two largest economies have already imposed tariffs on $34 billion worth of each other’s imports.
In his latest threat to the Asian nation, U.S. President Donald Trump has said he was ready to impose tariffs on all $500 billion worth of Chinese imports. [nL1N1UG076]
Following is a list of recent comments made by U.S. companies on trade tensions:
** General Electric Co (GE.N) estimated that new tariffs on its imports from China could raise its costs by $300 million to $400 million overall, before steps to lessen the impact. [nL1N1UG0LJ]
** Industrial conglomerate Honeywell International Inc (HON.N) said it had started sourcing some of its components from countries other than China to counter growing costs related to the trade tensions. [nL4N1UG3RV]
** Home furnishings chain At Home Group Inc (HOME.N) said it would make adjustments to its supply chain to mitigate the impact of the proposed tariffs on goods imported from China. [nL4N1UD48A] ** Upscale home furnishing chain RH (RH.N) said it expects to significantly reduce the amount of goods sourced from China by fiscal 2019 to mitigate the impact of the proposed new tariffs by the United States. [nL4N1U94PC]
** Gentex Corp (GNTX.O), which makes automatic-dimming rear view mirrors, said it expected cost increases of between $5 million and $8 million for the second half of 2018 related to its planned purchases of raw materials from China. [nGNXJsxg9]
** Toymaker Hasbro Inc (HAS.O) said it was moving more production outside of China as a result of the tariffs. [nFWN1UJ0N5]
** Danaher Corp (DHR.N), which develops technology for the dental, life sciences, diagnostics and environmental industries, said it expected an earnings impact of 1 cent per quarter, and that it would look to modify manufacturing locations. [nFWN1UF0ST]
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