5 months ago
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Mathias de Rozario
Updated Tue, Apr 29, 2025, 9:54 AM 1 min read
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By Mathias de Rozario
(Reuters) -French car parts supplier Valeo (FR.PA) said 90% of the products produced by the radical successful Mexico and imported into the U.S. are present compliant with the United States-Mexico-Canada-Agreement (USMCA).
"Valeo has implemented measures to mitigate the nonstop interaction of tariffs, conducting an exhaustive reappraisal of its proviso concatenation successful bid to bash everything it tin to trim the ground for the caller tariffs", it said.
CEO Christophe Perillat said successful telephone with journalists the institution was moving integrative moulds - utilized to nutrient car parts - from China to different parts of the world, peculiarly Mexico oregon the U.S., to beryllium USMCA compliant.
The radical added it was seeking agreements to get afloat compensation from customers for tariffs, and had signed deals covering much than 75% of the amounts concerned.
Valeo besides reported a 2.1% driblet successful its first-quarter income to 5.31 cardinal euros ($6.05 billion), successful enactment with the company-provided consensus.
($1 = 0.8772 euros)
(Reporting by Mathias de Rozario successful Gdansk; Additional reporting from Gilles Guillaume; Editing by Jan Harvey)
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