In a statement to MSNBC, Bitzer acknowledged that "the net impact of all remedies and tariffs has turned into a headwind for us."
Whirlpool took a financial hit because steel and aluminum materials make up key parts of the washing machines they sell. Then came the president’s decision in March to impose tariffs of 25 percent on imported steel and 10 percent on imported aluminum. CEO Marc Bitzer told investors on a conference call that month that it was "too early to quantify the financial impact on 2018,” yet he felt the move was "without any doubt, a positive catalyst for Whirlpool.”
The company cheered the administration’s decision, but was cautious in tying it to long-term success.
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