LG is raising washing machine prices due to new Trump tariff

Alfred Osborne
January 25, 2018

Washing machines displayed at a shop in the US.

Americans could see the price of new washing machines soar in the next year thanks to President Donald Trump's new tariffs on appliance imports, according to Goldman Sachs.

"Based on my experience as a member of WTO's Appellate Body, I think things are favorable for the Korean side", Kim said in a meeting with government agencies and businesses to respond to the USA trade restrictions. In a statement, LG had called the import tariff's a "misguided decision".

The firm has yet to reveal just how much more expensive its machines will be as a result, but it seems a significant bump might be on the way.

"This outcome would not have been possible without the support of Brown and Portman", Whirlpool Vice President Aaron Spira said Wednesday.

The Michigan-based company does most of its manufacturing in OH, and more than 3,000 people now work at the facility in Clyde.

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The firm said the tariffs on front and top-load machines will be largely passed on to USA consumers wishing to buy LG's white goods (via Reuters).

Samsung, the other top South Korean washing machine manufacturer, did not immediately respond to a request for comment on whether it will raise prices, too.

In October, The International Trade Commission ruled that Samsung and LG were violating trade laws and provided recommendations to Trump to curb the practice of dumping.

Mr. Fettig thanked Mr. Trump, the US trade representative, the Office of Trade and Manufacturing Policy, the trade commission, and Congress "for putting American workers first" in washer production.

A closer Whirlpool plant in Marion builds dryers and refrigerators.

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