Baker Hughes Braces for Tariff Headaches

October 15, 2025--Written by Daniel Graeber for Industrial Info Resources (Sugar Land, Texas)--The head of oilfield services firm Baker Hughes Company (Houston, Texas) said at a London energy forum that an aggressive U.S. tariff policy was a "pressure point" for its operations. Lorenzo Simonelli, the chief executive officer at Baker Hughes, said the company's annual profits could take a $100 million hit due to U.S. tariff policies. Seeking to reshore some of the U.S. industrial and manufacturing sector, U.S. President Donald Trump has embraced a tariff policy for many imported goods. Other companies featured: SLB, Exxon Mobil Corporation, Chevron Corporation