Bloomberg Businessweek ICYMI: Whirlpool Corp. CEO Says Tariffs to Benefit Business Going Forward
Apr 24, 2025
Marc Bitzer, CEO of Whirlpool Corporation, shares insights on navigating global tariffs and their potential benefits for U.S. manufacturing. He discusses Whirlpool's strong quarterly earnings, maintaining a financial outlook amidst economic uncertainty. Bitzer emphasizes the importance of domestic production capabilities and critiques loopholes that hinder local manufacturers. He humorously relates household chore frustrations to broader economic anxieties, reflecting on how businesses must prepare for unpredictability in the market.
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Whirlpool's Domestic Production Advantage
- Whirlpool produces 80% of what it sells in the US domestically, sourcing the majority of parts from the US.
- Domestic production makes Whirlpool a net winner despite tariff headwinds compared to Asian producers.
Close Tariff Loopholes
- Whirlpool asks to close tariff loopholes that benefit Asian producers unfairly.
- They want a level playing field, not exemptions or special treatment.
U.S. Manufacturing Can Succeed
- U.S. manufacturing can work well with a skilled workforce and strong factory pride.
- High steel prices and component costs are challenges that can make production difficult in the U.S.