Siemens sees limited tariff impact as profit top forecast
Siemens expects only a small impact on profit this year from the ramp up in global tariffs, the German engineering group said on Thursday, after it reported better than expected second quarter results. The technology company, whose products include factory automation software, controllers and trains, has a global production footprint which reduced the negative effect of trade barriers, and could raise prices again if necessary, executives said. "Based on our assessment and including mitigating actions, we foresee a limited profit impact," said Chief Executive Roland Busch, in relation to tariffs.