Posted On : 01-Jun-2019
SKF of Sweden said that it will impact the US tariffs with its industrial seals and US-made bearings in Mexico, when U.S. President Donald Trump threatened to slap tariffs on imports from his southern neighbor.
Mexico's investment in SKF mainly targets manufacturers of North America. Its major customers include car makers General Motors, FCA, Ford, Volkswagen, Nissan, Mazda.
Trump said on Thursday that he would hit the goods coming from Mexico with 5% tariffs and increase the levy every month until it hits 25% on October 1, unless Mexico is illegal on the American border Do not take immediate action against immigration.
In addition to selling to clients in North America, SKF sells its products in Mexico to customers in mining, steel, metals, petroleum, pulp and paper and food industries.
Source - ETA