In January, when Trump announced tariffs on imported washing machines, CEO Marc Bitzer told analysts, "This is, without any doubt, a positive catalyst for Whirlpool."
But the Trump administration didn't stop there. It imposed tariffs on steel and aluminum, sending raw material prices skyrocketing. That has raised costs for Whirlpool by $350 million and squeezed its profit margins. Steel prices in the United States are 60% higher than the rest of the world, Bitzer told analysts on Tuesday.
Read the full story at cnn.com.