Trump's tariffs could result in costs of up to $1.8 billion for Caterpillar
Caterpillar Revises Tariff Cost Estimate
Caterpillar, the American heavy equipment specialist known for its iconic yellow excavators and bulldozers, has revised its estimated burden from President Donald Trump's import tariffs. The company initially estimated its tariff costs for the current quarter to be between $400 to $500 million, but this has been revised to a range of $500 to $600 million.
This revised estimate for the current quarter is due to additional tariffs and clarifications that have occurred since the initial estimate. The new estimate is higher than the previous range of $1.3 to $1.5 billion that Caterpillar cited in early August.
In August, Caterpillar's CEO, Jim Umpleby, announced that the company would try to mitigate the negative effects of tariffs. However, no specific measures regarding tariff mitigation were announced at the time. The company has not disclosed specific steps yet to counteract these increased costs.
The revised estimate for Caterpillar's tariff costs this year is between $1.5 and $1.8 billion, higher than the previous range of $1.3 to $1.5 billion. The tariff costs for the company could amount to approximately €1.3 to €1.5 billion.
In early August, Caterpillar reported its quarterly results and cited a range of $1.3 to $1.5 billion as potential tariff costs. At the time, no details on the measures to mitigate the negative effects were given.
Caterpillar's tariff costs for the current quarter could be as high as $600 million, a significant increase from the initial estimate. The company has not yet provided details on the specific mitigation measures it plans to implement.
Stay tuned for more updates as Caterpillar continues to navigate the challenges posed by President Trump's import tariffs.
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