Komatsu is concerned about potential Canadian tariffs on American-made mining machines, but plans to continue investing in the US

From Investing.com: 2024-12-19 18:13:08

Japanese heavy-duty equipment maker Komatsu is concerned about potential retaliatory tariffs from Canada on American-made mining machines, rather than Trump’s tariffs. The company earns a significant portion of its sales from North America and fears the impact of trade barriers. Komatsu plans to continue investing in the U.S. despite challenges ahead.

Komatsu’s CEO, Hiroyuki Ogawa, worries about the impact of tariffs on U.S.-bound components but believes they can shift supply sources if needed. Trump’s focus on fossil fuel use could benefit the heavy machinery industry. The company plans to invest in the U.S., including a mining equipment service center in Arizona and a battery maker in Detroit.

Despite challenges in the upcoming fiscal year, Komatsu forecasts an operating profit of 573 billion yen ($3.65 billion) for the current fiscal year. The company remains committed to the U.S. market and plans to navigate the changing business landscape with strategic investments.



Read more at Investing.com: Canada’s retaliation for Trump tariffs is biggest concern, says Japan’s Komatsu By Reuters