Whirlpool Corporation (NYSE:WHR) ranks among the stocks to benefit from an onshoring boom. Bank of America upgraded Whirlpool Corporation (NYSE:WHR) from Underperform to Neutral on June 13, stating that the American home appliance manufacturer stands to gain from new import taxes that may increase prices for overseas competitors.
The U.S. government imposed a 50% tariff on the value of steel used in imported goods by adding home appliances to the Section 232 steel tariffs. The decision, which took effect on June 23, is likely to affect rivals that depend on less expensive international supply chains, especially those from South Korea and China.
In that regard, Whirlpool Corporation has a relative cost advantage since it gets almost all of its steel domestically and manufactures 80% of the appliances it sells in the United States.
Based in Michigan, Whirlpool Corporation is a home appliance manufacturer that provides its customers with a broad range of associated services and products.
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