Industrial equipment maker Flowserve issued 2019 earnings guidance that was below analysts’ expectations. So far the firm has been able to pass through duties on imports from China – which represented 23.8% of U.S. seaborne imports in 2018 – in the form of higher prices. Yet, CEO Robert Rowe has stated that the firm faces a “volatile environment” and that its competitors do “not necessarily follow suit”. Flowserve has already started to trim its imports from China, which fell 9.5% year over year in 4Q, while increasing those from India. A further shift appears ...