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Trump Extends 'Safeguard' Tariffs on Washer Imports
15/01/2021 12:00
U.S. President Donald Trump has reportedly extended “safeguard” tariffs on imported washing machines, including those from South Korea.
Reuters said that the tariffs, first imposed in January 2018, will be extended for another two years to protect American manufacturers from import competition.
Under the safeguard measure that took effect in February 2018, up to 50 percent tariffs were slapped on imported washers.
The three-year measure was originally due to expire in February.
However, the extended tariffs are likely to have a limited impact on South Korean producers Samsung and LG as they built washer factories in South Carolina and Tennessee, respectively, after the safeguard went into effect.
Reuters said that the tariffs, first imposed in January 2018, will be extended for another two years to protect American manufacturers from import competition.
Under the safeguard measure that took effect in February 2018, up to 50 percent tariffs were slapped on imported washers.
The three-year measure was originally due to expire in February.
However, the extended tariffs are likely to have a limited impact on South Korean producers Samsung and LG as they built washer factories in South Carolina and Tennessee, respectively, after the safeguard went into effect.
Source: KBS World Radio
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