Terex has cut its 2018 earnings guidance by as much as 10.0% for a mixture of reasons including “tariff headwinds”. While CFO John Sheehan is confident the construction equipment maker’s extra costs can be passed through in price increases and efficiency improvements, “including transitioning considerable volumes to new suppliers”, the impact on earnings may only “take place in future periods.” Terex’s exposure to China is relatively low with 18.7% of U.S. seaborne imports sourced there in the past 12 months. A 39.5% surge in imports in the third quarter on a year earlier from China may ...