Eltek CEO Sees Chance to Grow in US During Trade War With China
Israeli printed circuit board supplier Eltek sees opportunity to grow its U.S. business “due to the worsening of the relationship between the U.S. and China,” said CEO Eli Yaffe on a fiscal Q1 call Tuesday. “The impact of any trade…
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war between the U.S. and China will also impact the Israeli market.” Any heightened tension would likely accompany increased “U.S. pressure on the Israeli government to reduce the Israel-China trade activity,” he said. The company's Q1 ended March 31. Trump administration officials say punitive tariffs against China are being considered. COVID-19 “created new operational and business challenges” for Eltek, said the CEO. The stock closed 13.5% lower Tuesday at $4.05.