Headlines
ABB expects to pass on cost increases from new tariffs
Published by Global Banking & Finance Review®
Posted on April 3, 2025
1 min readLast updated: January 24, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on April 3, 2025
1 min readLast updated: January 24, 2026
ABB plans to pass on tariff-induced cost increases to customers, focusing on local production to mitigate impacts. The U.S. has imposed higher tariffs on Swiss imports than on EU and UK goods.
ZURICH (Reuters) - Swiss engineering group ABB said on Thursday it is evaluating the implications of new import tariffs and expects to pass on higher costs that result from them.
"We expect to pass on cost increases that are the result of the tariffs to our customers," a company spokesperson said.
The spokesperson said ABB aimed to be self-sufficient in all regions and has about 75-80% local production in the U.S. A key part of its strategy is to increase localization levels when investing in new manufacturing capacity, he added.
ABB's comments came after U.S. President Donald Trump imposed a 31% tariff on imports from Switzerland compared with 20% on goods from the European Union and 10% from Britain.
(Reporting by Oliver Hirt; Editing by Dave Graham)
The article discusses ABB's strategy to pass on cost increases from new U.S. tariffs to its customers.
ABB plans to increase localization and pass on costs to customers to mitigate the impact of tariffs.
The U.S. has imposed a 31% tariff on Swiss imports, higher than the 20% on EU goods and 10% on British goods.
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