Delphi warns to shift away from local suppliers if...
Delphi warns to shift away from local suppliers if trade barriers continued. Duties of up to 30 per cent on crude steel were imposed in March to protect and secure the troubled US steel industry. The tariffs have been denounced by European and Japanese steel producers as protectionist measures for an inefficient industry.
The company?s long-term contracts have so far shielded it from the effects of the price rises. But as it wins new business it is starting to buy steel products unaffected by tariffs from abroad.
Some new contracts of the Detroit company are already going abroadDelphi boosted sales to non-General Motors customers by more than the fall in sales to its former parent and gained 64 per cent in third-quarter earnings.