Baker Hughes CEO Sees $100 Million Hit From Trade Tariffs (1)

Baker Hughes Co. anticipates an impact of more than $100 million from tariffs this year, within the range that the company forecast in April as US President Donald Trump launched his trade war.

“It is an incremental pressure point, but it’s something we have to manage through,” Chief Executive Officer Lorenzo Simonelli said Monday at the Energy Intelligence Forum in London.

CEO of Baker Hughes Lorenzo Simonelli

Photographer: Samsul Said/Bloomberg

The global energy services and technology company, which has been making a big push into servicing data centers, has already sold its gas turbines into the sector this year, Simonelli said, with plans to boost output into next ...