Xin Point Shifts Output Abroad as US Customers Absorb Tariffs
MT Newswires Live
May 23
Xin Point Holdings (HKG:1571) said most of its American customers have agreed to absorb all or a significant part of the newly imposed tariffs, according to a Thursday filing with the Hong Kong bourse.
The company has also relocated some manufacturing processes to its plants in Mexico and Malaysia and begun rerouting deliveries through Mexico to avoid tariffs, the filing said.
Select products previously made in China have started shipping from Mexico since May.
Shares of the automotive components manufacturer were up over 4% in afternoon trade on Friday.
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