Hi Nick. Tariffs may reduce the volumes of the cars which EU exports in the US or increase their prices or both. If the volumes will be reduced then it will for sure negatively influence Garret Motion.

Volkswagen exports ~8% of its cars in US. I think they are the biggest exporter to US. So, let’s say in the worst case Garret Motion has 10% less revenues and therefore ~15% hit to the bottom line. But this is the worst I see now. So, if stock price tanks 20-30% on market’s overreaction, I’ll probably add more.

Additionally, I am rather in a camp of those, who expect that they will solve it with some deal in the not-so-distant future.

Anyway, let’s see what management says in April and how price moves in the next weeks.