After the U.S. government suddenly announced the imposition of high tariffs on imported washing appliances and solar panels, many manufacturers also promptly followed up and announced price adjustment. For example, LG sent a circular to retailers announcing that the price of their washing machines will be According to the Wall Street Journal reports, LG Chief Thomas Yoon said in a memorandum to retailers on Wednesday: 'Under the current trade situation, we will start the commodity price adjustment measures, and we will tell separately later.'
Industry observers in the "Wall Street Journal" interview said it expects LG washing appliance price adjustment in the 50 US dollars.
On Monday, the Trump administration announced a 20% tariff on the first batch of 1.2 million washers imported during the year, after which the tariff rate will soar to 50%.
Earlier, the U.S.-based Whirlpool Company launched a shelling of two rivals headquartered in South Korea, including Samsung and LG, which, in addition to washing machines, announced a hefty tariff on imported solar panels.
It is unclear whether Samsung will follow up the price adjustment at the moment. Foreign media contacted the representatives of LG and Samsung, but the two companies failed to respond immediately to media requests for comment.