A major local employer is changing its tune after celebrating one of President Donald Trump’s new policies.
The Whirlpool Corporation is cutting their profit outlook due to the Trump tariffs, after previously praising them.
The Hill reports that the home appliances manufacturer’s CEO, Marc Blitzer, says global steel costs have risen everywhere, reaching “unexplainable levels” in the US. He also says uncertainty about additional tariffs and global trade have caused problems with Whirlpool’s supply chain.
The company’s stock dropped by 10 percent before the market opened on Tuesday after it failed to meet Wall Street’s expectations.
Whirlpool’s domestic sales fell by 2.2-percent last quarter.
1 comment
Screw Whirlpool. They moved thousands of jobs to Mexico decades ago. No sympathy here. I have not bought anything Whirlpool in 20 years and don’t plan on changing anytime soon. I love capitalism because companies do whatever it takes to make money and consumers can simply not buy their products if they choose not to.