This company thinks it will be a 'winner' from Trump's tariffs
US-based appliance company Whirlpool says it will be one of the winners of President Donald Trump's global trade battle.
"With 80% domestic production, Whirlpool is a net winner of new tariff policies!" — the company said in a presentation released alongside its first quarter this week.
Whirlpool manufactures kitchen and laundry appliances, operating brands including KitchenAid, Whirlpool, and JennAir.
"Expect tariff policies to level the playing field for domestic producers," the presentation, which was positive about Trump's tariffs, said.
In the same presentation, Whirlpool accused companies producing products in Asia of exploiting "loopholes" since 2020 that enable them to make the same product for a cheaper cost, with a $70-per-unit price difference.
From cheaper steel prices and no steel tariffs paid on components in Asia's supply chain, Whirlpool believes the tariffs will "eliminate this unfair disadvantage."
To mitigate the impact of the tariffs, the company announced a price increase for components in April.
Whirlpool has 10 production plants based in the US, and around 80% of its products are assembled and sold in the US.
"New reciprocal tariffs begin leveling the playing field, and additional US trade actions will better support American manufacturing."
"We continue to stay focused on what is within our control in this dynamic environment and successfully implemented previously announced pricing actions," said Jim Peters, Whirlpool's chief financial and administrative officer.
Whirlpool released its Q1 earnings on Wednesday. It revealed net sales declined by 19.4% as the "threat of retaliatory tariffs, started to impact our business in Canada."
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Upturn
12 minutes ago
- Business Upturn
Why are Tata Motors shares falling nearly 5% today? Know More
By Aditya Bhagchandani Published on June 16, 2025, 09:42 IST Shares of Tata Motors Ltd plunged over 4.6% to ₹679.15 on Monday, June 16, after Jaguar Land Rover (JLR) issued a weaker-than-expected financial outlook for FY26 during its latest investor presentation. The stock opened lower and continued to slide, touching an intraday low of ₹679.10. Tata Motors' UK-based luxury car subsidiary JLR stated that it now expects its EBIT margin for FY26 to be in the range of 5–7%, down sharply from the earlier guidance of 10%. This comes as a disappointment to investors, particularly as the company had reported a strong EBIT margin of 10.7% in Q4FY25. In addition to the margin downgrade, JLR said it anticipates free cash flow to be close to zero in FY26, although it expects year-on-year improvement in FY27 and FY28. The update has raised concerns about the near-term profitability and cash generation of the company's luxury vehicle arm, which has been a key driver of growth in recent quarters. At 9:40 AM, Tata Motors' stock was trading at ₹679.15, down 4.62% from the previous close of ₹712.05. The company's market capitalization stood at ₹2.51 lakh crore. Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information. Ahmedabad Plane Crash Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
Hamilton Spectator
17 minutes ago
- Hamilton Spectator
Iran renews missile attacks on Israel, killing 4 and wounding dozens
TEL AVIV, Israel (AP) — Iran fired a new wave of missile attacks on Israel early Monday, triggering air raid sirens across the country as emergency services reported at least four killed and dozens more wounded in the fourth day of open warfare between the regional foes that showed no sign of slowing. Iran announced it had launched some 100 missiles and vowed further retaliation for Israel's sweeping attacks on its military and nuclear infrastructure, which have killed at least 224 people in the country since last Friday. The attacks raised Israel's total death toll to at least 18, and in response the Israeli military said fighter jets had struck 10 command centers in Tehran belonging to Iran's Quds Force, an elite arm of its Revolutionary Guard that conducts military and intelligence operations outside Iran. Powerful explosions, likely from Israel's defense systems intercepting Iranian missiles, rocked Tel Aviv shortly before dawn on Monday, sending plumes of black smoke into the sky over the coastal city. Authorities in the central Israeli city of Petah Tikva said that Iranian missiles had hit a residential building there, charring concrete walls, shattering windows and ripping the walls off multiple apartments. The Israeli Magen David Adom emergency service reported that two women and two men — all in their 70s — were killed in the wave of missile attacks that struck four sites in central Israel. 'We clearly see that our civilians are being targeted,' said Israeli police spokesman Dean Elsdunne outside the bombed-out building in Petah Tikva. 'And this is just one scene, we have other sites like this near the coast, in the south.' The MDA added that paramedics had evacuated another 87 wounded people to hospitals, including a 30-year-old woman in serious condition, while rescuers were still searching for residents trapped beneath the rubble of their homes. 'When we arrived at the scene of the rocket strike, we saw massive destruction,' said Dr. Gal Rosen, a paramedic with MDA who said he had rescued a 4-day-old baby as fires blazed from the building. During an earlier barrage of Iranian missiles on central Israel on Sunday, Iranian Foreign Minister Abbas Araghchi said that Iran will stop its strikes if Israel does the same. But after a day of intensive Israeli aerial attacks that extended targets beyond military installations to hit oil refineries and government buildings, the Revolutionary Guard struck a hard line on Monday, vowing that further rounds of strikes would be 'more forceful, severe, precise and destructive than previous ones.' Health authorities also reported that 1,277 were wounded in Iran, without distinguishing between military officials and civilians. Rights groups, like the Washington-based Iranian advocacy group called Human Rights Activists, have suggested that the Iranian government's death toll is a significant undercount. Human Rights Activists says it has documented more than 400 people killed, among them 197 civilians. Israel argues that its assault on Iran's top military leaders, uranium enrichment sites and nuclear scientists was necessary to stop Iran from obtaining a nuclear weapon. Iran has always insisted its nuclear program is peaceful, and the U.S. and others have assessed that Tehran has not pursued a nuclear weapon since 2003. But Iran has enriched ever-larger stockpiles of uranium to near weapons-grade levels in recent years and was believed to have the capacity to develop multiple weapons within months if it chose to do so. Error! Sorry, there was an error processing your request. There was a problem with the recaptcha. Please try again. You may unsubscribe at any time. By signing up, you agree to our terms of use and privacy policy . This site is protected by reCAPTCHA and the Google privacy policy and terms of service apply. Want more of the latest from us? Sign up for more at our newsletter page .
Yahoo
20 minutes ago
- Yahoo
China could have as many ICBMs as the US or Russia by 2030, weapons watchdog says
China has been adding about 100 nuclear warheads to its arsenal every year since 2023, per SIPRI. The think tank said China could have as many ICBMs as the US or Russia by 2030. Trump said in February that China's nuclear capabilities will match the US' in five or six years. China could achieve parity with the US and Russia in terms of the number of intercontinental ballistic missiles it has by 2030, per an estimate by the Stockholm International Peace Research Institute. The European think tank said in a report on Monday that China has the world's fastest-growing nuclear arsenal. It added that the country has at least 600 nuclear warheads and has been adding about 100 warheads to its arsenal every year since 2023. Last year, SIPRI said China increased its number of nuclear warheads from 410 in 2023 to 500 at the start of 2024. SIPRI's estimate is similar to that of the Pentagon's, which said in its China Military Power Report last year that China has over 600 operational nuclear warheads. The Defense Department said China is on track to grow its arsenal to 1,000 warheads by 2030. SIPRI said in its report on Monday that China could have as many ICBMs as the US or Russia by 2030, but will lag behind in the number of warheads. It estimates that China will have a maximum number of 1,500 warheads by 2035. In comparison, the US has 5,177 warheads while Russia has 5,459, per SIPRI estimates. The countries' combined stockpile makes up almost 90% of the world's nuclear weapons. In February, President Donald Trump said he wanted to engage Russian President Vladimir Putin and Chinese leader Xi Jinping in denuclearization talks in the "not too distant future." "China is trying to catch up because they're very substantially behind, but within five or six years, they'll be even," Trump said of China's burgeoning nuclear arsenal. Guo Jiakun, a spokesperson for the Chinese foreign ministry, said in a press briefing in February that China's nuclear strategy "focuses on self-defense" and it "always keeps its nuclear strength at the minimum level required by national security." The US and Russia should "make drastic and substantive cuts to their nuclear arsenals, and create necessary conditions for other nuclear-weapon states to join in the nuclear disarmament process," Guo said. China's foreign ministry did not respond to a request for comment from Business Insider. Read the original article on Business Insider
