Brazil Engine Maker Says Tariffs Are Hitting Long-Term Projects
A WEG service center for large electric motors and generators.
Source: WEG SABrazil’s WEG SA, a provider of industrial machinery for global oil and power companies, said its clients are delaying long-term investments due to rising geopolitical tensions and new tariffs.
Chief Financial Officer Andre Luis Rodrigues said the company is preparing actions to mitigate potential US tariffs of 50% on Brazil that are scheduled to take effect on Aug. 1.