ABB plans to pass on increased costs from new tariffs to customers

World World: Engineering group ABB on Thursday said it is evaluating the impact of new import tariffs imposed by US President Donald Trump and plans to pass on additional costs arising from these to customers.

“We expect to pass on the increased costs caused by these tariffs to our customers,” a company spokesperson said. ABB also clarified that it is pursuing a strategy of becoming self-reliant in all areas and currently 75-80% of its production in the US is done locally.

ABB’s reaction came after the US imposed a 31% tariff on imports from Switzerland, 20% on the European Union and 10% on goods imported from the UK.