1039 GMT - Kuehne + Nagel and SGS might be potential beneficiaries of new U.S tariffs triggering supply-chain shifts in the mid term, Vontobel analyst Jean-Philippe Bertschy says in a research note. These supply-chain shifts could be triggered by the increased tariffs through pricing effects, where Holcim--among others--could also expect benefits, Bertschy says. The final outcome of this trade war is highly unpredictable with many uncertainties, such as whether the tariffs will be applied to value-added or to the total value of the product, the analyst says. Swiss companies will have to pass on the additional costs to their customers, he says. Pricing power and a strong value proposition will be crucial, Bertschy adds. SGS shares trade 2.1% lower at 86.64 Swiss francs. Kuehne + Nagel shares trade 4% lower at 199.40 Swiss francs. (nina.kienle@wsj.com)
(END) Dow Jones Newswires
February 03, 2025 05:39 ET (10:39 GMT)
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