Philips is investing in the United States. The Health Technology Company is investing over 150 Million Dollars (128.5 Million euros) Extra in its American Production and Research Activities.
The Company is Primarily Investing Heavily in the Expansion of a Large Factory in the American State of Pennsylvania. Smart, AI-driven ultrasound systems are made there.
Philips’ Decision Seamlesly Aligns with the policy of American President Donald Trump. He Encourages Companies to Produce More in the US and Wants To Reduce Dependence on Foreign Suppliers. If Philips produces more in the country, It Could Therefore Be Beneficial for the Company.
Philips Feels the Pain of the American Import Duties, which Significant Drive Up The Costs For Parts. For this year, The Group Expects 150 to 200 Million Dollars in Extra Costs Due to the Tariffs. However, that is Less Bleak Than Previous Estimates or 250 to 300 Million Dollars.
In Addition, Philips, Already Investing Heavily is in the US Anyway. Every year, around 900 Million Dollars Goes to Research and Development in the Country.
Jeff Dilullo, CEO of Philips in North America, Told Fox Business That the Us Is Simply the Most Important Market for the Company. The Expansion also Means More Jobs. IT CONCERNS 120 New PASSIONS IN THE FACTORY IN PENNSYLVANIA.