NTC Director Peter Navarro has accused LG Electronics and Samsung Electronics of “country hopping” in response to U.S. tariffs, referring specifically to the washing machine industry. Panjiva data shows that the adaptations in supply chains has indeed occurred, presumably as part of an attempt to maximize profits for shareholders. LG and Samsung cut washing machine exports from China to the U.S. by 85% in the three months to February 28 on a year earlier. Yet, increased exports from Thailand and Vietnam meant total shipments only fell 21%. LG Electronics is also planning to build a facto...
Supply Chain Research
Copyright © 2024 Panjiva Supply Chain Intelligence, a product offering from S&P Global Market Intelligence Inc. All rights reserved.