0537 GMT - Trump's latest tariffs should have limited impact on major Chinese home appliance names, Morningstar analyst Jeff Zhang says.China's appliance makers, such as Midea Group, Gree Electric Appliances and Zhejiang Supor's earnings exposure to the U.S. market should remain below 5%, he says. Haier Smart Home is most vulnerable to tariff hikes as 20%-25% of its profit comes from the U.S. and the analyst expects it to increase production capacities in the U.S. or Mexico. With reciprocal tariffs also applied to Asean countries like Vietnam, Morningstar thinks manufacturers will need to either ramp up capacities in North America or reduce exposure to the U.S. market. As most Chinese appliance makers see faster sales growth in emerging markets, the second option should be easier to adopt, he adds. (sherry.qin@wsj.com)
(END) Dow Jones Newswires
April 03, 2025 01:37 ET (05:37 GMT)
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