Wind turbine manufacturer Vestas has been negatively affected by U.S. section 301 tariffs on imports from China. The future isn’t much brighter as CEO Henrik Andersen has stated that the “phase 1 deal is not going to touch on our supply chain” given tariffs on ball- and roller-bearings will remain in place for the foreseeable future. The specialized nature of the products has meant that the share of Chinese shipments in total U.S. imports of bearings has only fallen to 18.2% of the total in the 12 months to Nov. 30 from 19.3% in 2016. Andersen has noted that it is ...
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