Spiesshofer concerned about US jobs due to Trump steel tariffs
Ulrich Spiesshofer, ABB’s chief executive, has expressed concern that U.S. President Donald Trump’s new tariffs on steel and aluminium imports might jeopardize thousands of ABB jobs in the United States, reports Financial Times.
Spiesshofer warned that ABB’s U.S. plants manufacturing high-specification power transformers would be affected if the cost of the steel imported from Europe and Japan increased considering there is insufficient production of that specific steel in the U.S.
ABB has 4,000 employees making energy-efficient transformers and motors across the US.
Source: Financial Times