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GE Offsetting $500M Tariff Costs by Raising Prices, Says CEO (Full Interview)
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June 2, 2025
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8:39Now PlayingGeneral Electric is exercising some cost increases to pass on additional charges caused by US President Donald Trump’s tariffs, as the world’s largest aircraft engine maker advocates for a return to a duty-free regime that long underpinned the industry.
The company has about $500 million in residual cost challenges stemming from the tariffs, Chief Executive Officer Larry Culp said in an interview with Bloomberg Television in New Delhi. As a result, GE is in close contact with its supply chain, exercising a duty drawback option but also “passing along some of that residual tariff pressure to customers,” he said.
“We’re managing the best we can, mitigating where we can through those supply-chain improvements but also through the cost and price actions,” Culp said at the annual general meeting of the International Air Transport Association.
Culp has made direct appeals to Trump to return to a tariff-free environment that has existed for close to half a century across the aircraft-manufacturing industry and supported exports of products like GE engines and Boeing Co. aircraft. The company, whose engines are used on the popular Airbus SE A320 family and Boeing 737 planes as well as larger Boeing aircraft, first flagged in late April that it’s experiencing a $500 million impact from tariffs, necessitating some price adjustments.
The GE CEO said that while his company is “buffering out the best we can,” the industry as a whole needs to speak with a unified voice if it wants to return to a pre-tariff regime that Culp said “really benefited” everyone in the space.
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