2334 GMT - Austin Engineering took Trump's tariff threats seriously and that should help it navigate the impact of the new 25% levy on U.S. imports from Canada, Euroz Hartleys says. Austin Engineering long manufactured all trays for Canadian customers in the U.S., generating some A$32 million in revenue from Canada in FY 2024. Analyst Trent Barnett says that would have exposed it to potential retribution tariffs by Canada. However, Austin Engineering in recent months began manufacturing in Canada, which it expects will enable it to meet customer orders and demand there. Euroz Hartleys highlights another benefit to this strategy: moving some manufacturing into Canada frees up capacity to manufacture for U.S. clients. Austin Engineering is down 2% at A$0.49 today. (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
February 02, 2025 18:34 ET (23:34 GMT)
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