Investing.com -- Swiss engineering group ABB (ST: ABB ) is assessing the effects of new import tariffs and anticipates passing on any resulting cost increases to its customers, Reuters reported on Thursday.

ABB expects to transfer any cost increases that come as a result of the tariffs to its customers, the report said, citing a spokesperson.

In an effort to be self-sufficient across all regions, ABB is reported to have approximately 75-80% of its production localized in the U.S.

The spokesperson further added that a crucial part of ABB’s strategy is to boost localization levels when investing in new manufacturing capacity. This move is in line with the company’s aim to be self-reliant in all regions where it operates.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.