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Tariff Quote Watch: ABB Feels Trade War Impact, May Have More Mitigation To Do

China 2104 European Union 487 India 346 Industrials - Capital Goods 337 Tariff Quote Watch 184 Tariffs 1456 U.S. 3849

ABB reported 3Q revenues that fell 2.9% year over year, with CFO Timo Ihamuotila having stated that “clearly the trade war has some impact on overall conditions”. Ihamuotila also noted that in the U.S., the firm is “seeing some slowdown in the industrial short-cycle business”. Panjiva data shows U.S. seaborne imports of electric motors associated with ABB dropped 18.7% year over year in 3Q while imports of electricity transformers climbed 17.3%. ABB is still exposed to imports to the U.S. from China, which represented 23.0% of the total in the 12 months to Sept. 30. That is nonetheless d...

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