New US tariffs could prompt Signify to move operations out of China, CEO says
Signify, the largest lighting producer globally, may shift production from China to countries like India, Indonesia, or Mexico if faced with new U.S. tariffs. This decision arises as former U.S. President Trump proposes a 60% tariff on Chinese imp...
By Reuters | Updated:
Lighting maker Signify is considering moving some of its production out of China if the company is confronted with a new round of U.S. tariffs, its chief executive said on Friday.
Signify, the biggest maker of lights globally, is looking at production sites in India, Indonesia and changing existing operations in Mexico, CEO Eric Rondolat said on a call with analysts after the company reported third quarter earnings.
Former U.S. President Donald Trump has proposed a tariff of up to 60% on imports from China, where Signify has much of its production, if he is elected for a second time on Nov. 5.
Signify, the biggest maker of lights globally, is looking at production sites in India, Indonesia and changing existing operations in Mexico, CEO Eric Rondolat said on a call with analysts after the company reported third quarter earnings.
Former U.S. President Donald Trump has proposed a tariff of up to 60% on imports from China, where Signify has much of its production, if he is elected for a second time on Nov. 5.
Download
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
Download
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
ADVERTISEMENT
