The prez ordered a 5% tariff on products from Mexico, and plans to ratchet it up to 25% by October as a response to the “ongoing illegal immigration problem”. A fair number of HW products are made there and are sold in the US. Since the administration hasn’t established metrics, this could be quite the sh--storm for HW. Wonder how much will come out of the employees’ hides.
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The tariff money can be used to build the wall, it will also be needed to pay for all of the South Americans that are coming and will get tax dollars. Congress needs to update immigration laws to end this.
Would Honeywell get subjected to the proposed taxes when moving their own product from Mexico to the US? Sorry if this is an obvious question, but I slept through ECON 101.
2htr Research before commenting! Corporate lobbying whether via HIPAC or directly hiring a lobbyist hasn't been a deductible expense for years therefore isn't "tax free". HIPAC itself is funded by "voluntary" employee contributions.
I can imagine HIPAC is irate that their outsourcing is no longer tax free. They must be screaming at their toadies in Congress.
rig . Stay thirsty my friends.
rig . Stay thirsty my friends.
Read the book "The Next 100 Years:..." George Friedman. Conflict with Mexico is inevitable. Water , D--gs, and most importantly... low wage workers.
Honeywell is quite aware of the macro trends at play. They sent factories there knowing that they would eventually shut them down when the incentives disappeared. ding-dong. times up.
make more in the USA. love to see this on our [dam good] products "HONEYWELL Proudly made [not just assembled] in the USA". we can absorb the cost. its that pompous, at all cost, upper executive management trying to keep their high paying jobs that drives our jobs outside the USA.
And, btw, how are we doing with the Chinese content that ISC has been adding for a decade or more?
I went out to my local discount liquor store today and bought a full case of my favorite tequila before the first 5% of the tariffs kick in on June 10. Sure, it only saves me a Dollar per bottle right now, but by October, I’m talking $5 per bottle.
Been in meetings all damn day about this. We signed some huge projects before this with sourcing from Mexico. It could make us lose some Huge $$.
iew. yes and TM will get his bonus as usual .
Blaming any of the results of this tariff on anyone in HW is r----dation at its highest. This company isn’t perfect, but they didn’t institute the stupidity and you need to look to your elected officials for blames of the $hit rolling downhill
Baloney man will use this as an opportunity to start spouting his favorite buzz words, "economic uncertainty" and "slowing global growth". Queue up some hiring freezes, play the furlough game, and postpone merit increases for 2020. Perhaps even a new round of layoffs, they are long overdue. Be prepared!