Flowserve has used a price-led strategy for dealing with tariff-related cost increases. Following two price rises in 2019, the flow device maker’s CEO, Robert Rowe, has stated the firm “will do another annual price increase at the end of this year. And what I’d say is it’s a combination of tariff and inflation.” Higher prices may have led the firm to trim imports, with total U.S. seaborne imports associated with the firm down 20.7% year over year in 3Q. The firm’s exposure to China was just 26.4% of total U.S. seaborne imports in the 12 months to Se...