A few days ago, I wrote about the hit that Ford was taking from tariffs (due to its imports of aluminum and steel) despite its extensive U.S. production base.

Now, it’s Caterpillar’s turn.

Via the Wall Street Journal (August 5):

Caterpillar’s commitment to building more equipment in the U.S. over the past decade isn’t shielding the company from U.S. tariffs.

Caterpillar predicted tariffs this year could cost the Texas-based company as much as $1.5 billion, despite increasing its U.S. factory workforce by 29% and raising equipment exports by 75% since 2016. The company says its reliance on imported parts and materials for its U.S. plants leaves the company exposed to tariffs.

“We’ve built a global supply chain that’s unique to us,” CEO Joe Creed told analysts Tuesday. “The strategy behind that supply chain allows us to increase our footprint here in the U.S.”

Too bad, it seems.

Caterpillar employs over 50,000 people in the U.S.

For now.