UK's discoverIE to move more production to US amid tariff woes (updated)
16/04/2025 08:52
Updates with details on US unit in paragraph 3 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. (Reporting by Yamini Kalia in Bengaluru; Editing by Nivedita Bhattacharjee and Savio D'Souza) ((Yamini.Kalia@thomsonreuters.com;))