The CEO of Newell Brands said on Friday that aims to reduce its dependence on Chinese suppliers to reduce the impact of US import tariffs following its unexpected quarterly loss prediction.
Sharpie manufacturer, which produces products from partly China China, said it plans to reduce the cost of the finished goods imported in the US, which has dropped from 15 percent to 10 percent of the total cost of goods sold by the end. Year
Earlier this week, US President Donald Trump Impose By sweeping 10 percent tariff on all Chinese imports, the new trade war began between the two largest economies in the world.
Get Breaking National News
For news around Canada and around the world, sign up for breaking news alerts when they are directly delivered to you.
CEO Chris Pietersen said on Friday Call L after an earnings that the company is turning out of China and alternating geographical fields by both existing and new suppliers.
trending now
-
![]()
Rup Serv Chito is still at the top, but race is tight after Trudeau’s departure: Ipsos
-
![]()
‘Deep Sadness & Shock’: Canadian baby dies at Jamaica’s resort
According to data compiled by LSEG, the stock of Greco Children’s Product Manufacturer has dropped 27 per cent after analysts forecast for the first quarter loss between six cents and nine cents, compared to three cents estimates of the profits of analysts.
It also predicted an annual net sales that the range of two per cent against the estimates of 0.7 per cent reductions is reduced by four per cent. The company added that these predictions are not a factor in the impact of tariffs.
Last year, ahead of the US electionsPietersen told Reuters The company was pushing some of the kitchen equipment products from China and has shifted manufacturing to Tennessee for its writing business as it faces “uncertainty” on tariffs.
