UK's discoverIE to move more production to US amid tariff woes
ReutersApr 16, 2025 7:52 AM
April 16 (Reuters) - Britain’s discoverIE DSCV.L said on Wednesday it will shift more production to the U.S. and pass on higher costs for its customised electronics amid concerns over Donald Trump’s tariffs .
China and the United States, the world's two biggest economies, are locked in a scathing trade war that has rattled financial markets with their eye-watering tariffs.
DiscoverIE said it expects to offset tariff impact by passing on costs to clients, adding its U.S. unit, accounting for about a quarter of sales, imports "very little" from China.
Shares of the company rose 3% to 557 pence by 0741 GMT after the company said it expects earnings for the year 2024/25 to be slightly ahead of expectations.
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