1223 GMT - European telecom equipment suppliers like Nokia and Ericsson could benefit from the absence of new U.S. tariff announcements for Mexico and Canada, JPMorgan analysts write in a note. Mexico and Canada weren't mentioned in the notes given to reporters after the announcement, they note. "If Mexico, in particular, isn't targeted, then equipment suppliers like Ericsson and Nokia would be less impacted by direct tariffs given they assemble large parts of their equipment for the U.S. market in Mexico." In the case that no new tariffs on Mexican products are announced in the future, the outlook would be relatively positive for Nokia and Ericsson. Nokia and Ericsson shares are down 6.45% and 3.1%, respectively. (najat.kantouar@wsj.com)
(END) Dow Jones Newswires
April 03, 2025 08:23 ET (12:23 GMT)
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