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ABB hopes for concessions on Chinese special steel- The 19th China (Guangzhou) Int’l Plate metal, Bar, wire, Metal Processing &Setting
4/11/2018 金属板材展-棒材-线材展 -plate metal expo-wire expo |
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Seeking Alpha reported that ABB Ltd hopes the US government will make some concessions on its plan to slap tariffs on steel imports from China, and is in discussions with the [US] government on how to deal with this special situation.
CEO Ulrich Spiesshofer tells Reuters that ABB operates more than 60 production sites in the US and it needs special steel of a certain quality that is not available in the required amount in the US for its local production of certain transformers and electric engines.
Asked why he expected the US government to support a Swiss company, the CEO said that “We are one of the largest copper and steel buyers in the world, we buy very, very much, and that is why we are listened to.”
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