The US appliances company Whirlpool said it will be one of President Donald Trump’s winners of the global trade battle.
“With 80% interior production, Whirlpool is a net winner of new pricing policies!” – The company declared in a presentation published alongside its first quarter this week.
Whirlpool makes household appliances and linen, operating brands, including Kitchenaid, Whirlpool and Jennair.
“Expect the pricing policies to level out the rules of the game of national producers,” said the presentation, which was positive on Trump’s prices.
In the same presentation, Whirlpool has accused companies producing products in Asia of exploiting the “gaps” since 2020 which allow them to make the same product for a cheaper cost, with a price difference of $ 70 per unit.
Cheaper steel prices and no steel rate paid on the components of the supply chain in Asia, Whirlpool thinks that prices “will eliminate this unfair disadvantage”.
To mitigate the impact of prices, the company announced an increase in the price of components in April.
Whirlpool has 10 production factories based in the United States, and around 80% of its products are assembled and sold in the United States.
“The new reciprocal prices are starting to level the rules of the game, and additional American commercial actions will better support American manufacturing.”
“We continue to stay focused on what is under our control in this dynamic environment and have successfully implemented the pricing actions announced above,” said Jim Peters, financial and administrative director of Whirlpool.
Whirlpool published its income from the first quarter on Wednesday. He revealed that net sales decreased by 19.4% while the “threat of reprisal rates, began to have an impact on our business in Canada”.
businessinsider
