US gets pricier LG washing machines after Donald Trump approves big tariffs
Chicago/Seoul — LG Electronics says it will hike prices on its washing machines sold in the US after the Trump administration slapped tariffs on large, imported, residential washing machines. The South Korean home appliance maker, later reporting quarterly earnings, also warned that US protectionism would strengthen in 2018. US President Donald Trump approved recommendations on Monday to impose tough safeguard tariffs on washing machines, following findings by the US International Trade Commission (ITC) that these imports were "a substantial cause of serious injury to domestic manufacturers". The ITC’s recommendations, which would protect American appliance makers including Whirlpool, were made in November to keep Samsung Electronics and LG from flooding the US market with inexpensive washers. A 20% tariff will apply on the first 1.2-million imported washers in the first year, and a 50% tariff on machines above that number. The tariffs will affect most front-and top-load type washer...
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