EnergyWatch

Tariffs make Vestas turbines more expensive: May lead to lay offs

More expensive steel may impact Vestas significantly in the US. Analyst believes a restructuring may be necessary.

Photo: Frank Boutrup Schmidt/Vestas

President Donald Trump's import tariff on both steel and aluminum may impact Vestas' earnings in the US due to rising costs, and it may be necessary for the company to instigate lay offs people, according to an analysis from HSBC.

Vestas will be the most impacted by rising steel prices of all wind turbine manufacturers, says the bank.

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