GE and Siemens Mexican Operations Saved By Retained American Tariffs — Panjiva


GE and Siemens Mexican Operations Saved By Retained American Tariffs

Industrials - Capital Goods 265 Mexico 505 South Korea 383 Tariffs 1169 U.S. 3297

The U.S. ITC has ruled that tariffs should remain in place for South Korean exports of utility-grade electrical transformers. That’s not a big surprise given Korean suppliers represented 23% of U.S. imports even with the duties. The decision should be a relief for Mexican suppliers (39% of the total) including the local subsidiaries of GE ($168 million of exports in the 12 months to July 31) and Siemens. Chinese suppliers won’t be able to expand their share of the market as section 301 duties led to a 73% drop in exports in July vs. a year earlier.

PANJIVA RESEARCH is a service provided by Panjiva, Inc. ("Panjiva") to relevant global subscribers, and are deemed to be Panjiva "Services" subject to the Panjiva Terms & Conditions of Use. Information contained within or made available via the Services is for informational purposes only and nothing in the Services shall constitute or be construed as an offering of financial instruments, or as investment advice or recommendations by Panjiva, Inc. or its affiliates of an investment strategy or whether to "buy", "sell" or "hold" an investment. The Services may include views and commentary about customers of Panjiva. No aspect of the Services is based on consideration of your individual circumstances, and you should determine on your own whether you agree with the information contained within or made available via the Services. Employees involved in Panjiva Research may hold positions in securities analyzed or discussed in the Services. Panjiva does not make any express or implied warranties, representations, endorsements or conditions with respect to the Services and the information contained within or made available via the Services, including without limitation, warranties as to the usefulness, completeness, accuracy, currentness, reliability or sufficiency of any information (including, without limitation, conclusions, statements, opinions, estimates, forecasts or projections of any kind) and expressly disclaims any implied warranties. Neither this disclaimer nor any of its contents may be forwarded or redistributed without the prior written consent of Panjiva. © 2019 Panjiva, Inc. All Rights Reserved.