Why EMS Stocks Are Down in Trade?
The Trump administration is reportedly considering tariffs on foreign electronic devices, with duties calculated based on the number of chips per product. The move aims to push companies to relocate manufacturing to the U.S., with enforcement by the Commerce Department.

Impact on EMS Players with U.S. Exposure
• Dixon: 4–5% of sales from U.S.
• Kaynes: 5–6%
• Syrma SGS: 6–7%
• Avalon Tech: 40–45% (notably, Avalon already has U.S. manufacturing presence, offering some insulation).