Samsung, LG may move some home-appliance manufacturing from Mexico to US, paper says
SEOUL, Jan 21 (Reuters) - South Korea's Samsung Electronics 005930.KS and LG Electronics 066570.KS are considering moving some manufacturing of home appliances from their Mexican plants to their U.S. plants, a South Korean newspaper reported on Tuesday.
The review comes as U.S. President Donald Trump said he was considering imposing 25% duties on imports from Canada and Mexico on Feb. 1.
Samsung Electronics is considering moving the manufacturing of dryers from its plant in Mexico to its plant in South Carolina, Korea Economic Daily reported, citing unnamed industry sources.
LG Electronics is also considering moving the manufacturing of refrigerators from Mexico to its factory in Tennessee, which makes washing machine and dryers, the newspaper said.
Samsung said it plans to monitor the situation and respond flexibly, as it operates production bases in many regions of the world. LG Electronics said it plans to respond to changes in the market by adjusting the production system and production sites.
(Reporting by Joyce Lee and Hyunjoo Jin
Editing by Bernadette Baum)
((joyce.lee@tr.com;))
Related Articles
TSMC Just Delivered Incredible News to AMD, Nvidia, and Micron Stock Investors
In today's video, I discuss Taiwan Semiconductor Manufacturing (NYSE: TSM) and recent updates impacting the semiconductor industry. To learn more, check out the short video, consider subscribing, and click the special offer link below.
Japan: Believe in Long-Term Recovery. Buy!
Under the long-term influence of the three arrows of Abenomics and the diminishing impact of the pandemic, Japan's economy has entered a recovery phase (excluding 2024). The emergence of inflation and a significant rise in wages, driven by the 2024 Shuntō wage negotiations, prompted the BOJ...
How Markets Are Reacting to Trump’s Stance on Immigration, Inflation, and Energy?
TradingKey - On his first day in office, Donald Trump signed executive orders on immigration and energy policies but refrained from announcing tariffs on major trade partners. U.S. stock futures broadly rose, while the dollar index declined during his speech..jpg)
Trump’s Inauguration: What’s Next for Bitcoin Policies?
TradingKey - Donald Trump’s inauguration takes place today, January 20, and as a vocal Bitcoin supporter, Bitcoin near the $110,000 mark on Monday.
US Stock Market’s 2025 Outlook: Navigating the Shifting Landscape
TradingKey - Anyone who has invested in US stocks in 2024 will be happy. The US stock market has delivered an absolutely blockbuster performance so far this year, with the S&P 500 Index soaring 26.9% year-to-date (as of December 16), reaching record highs.