LG Electronics May Need to Heat Up Localization Strategy as Tariffs Widen — Panjiva
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LG Electronics May Need to Heat Up Localization Strategy as Tariffs Widen

China 3050 Cons. Discr. - Durables 575 Industrials - Capital Goods 622 South Korea 605 Tariffs 1868 U.S. 5401

LG Electronics has completed construction of a washing machine factory in the U.S. The plant is a strategic response to tariffs applied by the Trump administration in Jan. 2018. While mitigating LG’s U.S. tariff risks the firm also has significant imports of other household appliances. Those include refrigerators, seaborne imports of which by LG climbed 22.9% year over year in the 12 months to Apr. 30, as well as air conditioners and ovens. The widening of tariffs on imports from China may require LG to extend its localization. Ovens are particularly exposed with China accountin...

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