Zebra Technologies is transferring forward with plans to relocate extra manufacturing from China forward of looming tariff hikes, CEO Anders Gustaf
Zebra Technologies is transferring forward with plans to relocate extra manufacturing from China forward of looming tariff hikes, CEO Anders Gustafsson instructed CNBC on Tuesday.
The Trump administration’s subsequent deliberate tariffs, scheduled for Dec. 15, goal shopper objects corresponding to toys, laptops and smartphones.
The electronics maker has already completed that for merchandise that had been hit by earlier tariffs, Gustafasson stated.
“We’re now transferring to different Southeast Asian nations with our present companions they usually’ve been replicating our strains,” he stated on “Mad Money.”
Gustafsson’s interview with Jim Cramer follows information that the Lincolnshire, Illinois-based firm landed a contract with the U.S. Postal Service value greater than $500 million. It reported a mixed third quarter on Tuesday, however its shares rose nearly 7% on the day.
Zebra makes bar-code scanners, printers and different cellular computing merchandise for companies. Cramer famous that he has been a long-time fan of the corporate.
Zebra Applied sciences’ determination to maneuver its provide chain out of China was in response to President Donald Trump’s long-running commerce warfare with the nation. Trump has referred to as for companies to move manufacturing elsewhere, together with to the U.S., with a purpose to keep away from tariffs on Chinese language imports.
Trump stated earlier this month that the U.S. and China agreed to a preliminary “phase one deal” because the nations strive…