Ametek has used price increases as its main strategy for offsetting U.S. tariffs on Chinese exports. CEO David Zapico has indicated price increases added two percentage points to profit margins in 3Q, while the impact of tariffs and cost inflation only deducted 1.5 points. Zapico has also stated that he’d “be very surprised if pricing did not exceed inflation and tariffs in 2020.” The price rises only appear to have had a marginal impact on U.S. imports by sea and from Mexico associated with the firm, which fell by just 1.0% year over year in 3Q. There is some supply...