SU Schneider Electric SE

   By Nina Trentmann 
 

French industrial group Schneider Electric SE (SU.FR) is forecasting higher raw material prices following newly introduced import tariffs in the U.S. and China.

"There is going to be an impact," Alain Dedieu, senior vice president for the company's industry business, said on Wednesday in Tianjin, China, alongside the World Economic Forum's Annual Meeting of the New Champions. "We might see a slowdown in global growth."

Though not directly impacted by U.S. or Chinese tariffs, Schneider could be indirectly hit by higher input costs and an overall decline in economic sentiment. The company provides automation solutions, hardware, software and services.

China and the U.S. each represent around 15% of global revenue at Schneider.

"Every disruption in the global market is causing hiccups," said Mr. Dedieu.

The escalation of trade tensions earlier this week when both the U.S. and China levied new tariffs on each other's goods creates new volatility and uncertainty for multinational companies like Schneider, said Mr. Dedieu.

"One of the core skills for managers now is to manage volatility on a month-to-month base," he said. "This cannot go on."

Write to Nina Trentmann at Nina.Trentmann@wsj.com, @Nina_Trentmann

(END) Dow Jones Newswires

September 19, 2018 03:40 ET (07:40 GMT)

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