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Wed, February 5, 2025
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[ Wed, Feb 05th ] - Reuters
Assa Abloy to hike prices if US implements tariffs on Canada and Mexico, CEO says

Assa Abloy to hike prices if US implements tariffs on Canada and Mexico, CEO says


Published on 2025-02-05 08:20:48 - Reuters
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  • Sweden's Assa Abloy plans to raise its prices if U.S. President Donald Trump moves ahead with the tariffs on Canada and Mexico, the CEO of the world's biggest lockmaker said on Wednesday.

Assa Abloy, the world's largest lock maker, plans to increase prices if the United States implements new tariffs on imports from Canada and Mexico, according to CEO Nico Delvaux. This statement was made in response to potential changes in U.S. trade policy, particularly concerning the Section 232 investigation into whether steel and aluminum imports threaten U.S. national security. Delvaux highlighted that any new tariffs would likely lead to higher costs for materials, which would necessitate price adjustments to maintain profitability. He also mentioned that the company is monitoring the situation closely, as the outcome could significantly impact their operations and pricing strategy in North America.

Read the Full Reuters Article at:
[ https://www.reuters.com/business/retail-consumer/assa-abloy-hike-prices-if-us-implements-tariffs-canada-mexico-ceo-says-2025-02-05/ ]
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