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(Bloomberg) -- HP Inc. Chief Executive Officer Enrique Lores said the hardware maker is considering moving some of its manufacturing to the US as President Donald Trump threatens nations around the world with tariffs and presses corporations to invest more domestically.

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A shift toward US manufacturing is “one of the scenarios that we are contemplating,” Lores said in an interview with Bloomberg TV on Friday. He emphasized, however, that the Palo Alto, California-based company has made no decision. He also cited challenges in restoring operations in the US.

“It is not only the assembly that we would be doing — it is what will it take to bring all of the different components and different suppliers we have and have them manufacture here?” Lores said. This is going be a much longer process, and it is part of the evaluation that we are doing.”

Among the obvious incentives, Lores said, is saving money by making products closer to where the company’s customers are and being able to respond quicker to customer demand. “There are benefits to building products locally, and this is why we’ve gone from a very centralized model that we had a few years ago to a more decentralized model.”

Just a day earlier, Lores said in a interview that rising component costs and US tariffs on imports from China are weighing on profit. Still, a diverse supply chain is helping HP mitigate most of the impact, and he said he expected that by the end of the fiscal year less than 10% of goods sold in North America will come from China.

Shares of HP were down 7.2% on Friday after the company gave a profit outlook for the current quarter that fell short of expectations.

--With assistance from Caroline Hyde and Matthew Miller.

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