Signify Contemplates Shifting Production Amid Potential Tariff Hikes

Lighting giant Signify might relocate some production out of China if faced with new U.S. tariffs. CEO Eric Rondolat mentioned India, Indonesia, and Mexico as potential sites. This move follows tariff proposals by former U.S. President Donald Trump on Chinese imports.

Signify, the world’s largest lighting manufacturer, is contemplating relocating part of its production out of China as a precaution against possible future U.S. tariffs, CEO Eric Rondolat announced on Friday. The company is assessing alternative production locations in India, Indonesia, and is also considering adjustments to its existing operations in Mexico.

The potential relocation comes in response to former U.S. President Donald Trump’s proposal of a 60% tariff on Chinese imports, should he secure re-election in the upcoming November 5 presidential polls.

This strategic consideration was disclosed during a call with analysts following the company's announcement of its third-quarter earnings, underscoring the ongoing geopolitical uncertainties impacting global businesses.

(With inputs from agencies.)