To raise prices by about $50
The WSJ is reporting that South Korean LG, will be raising their price of laundry appliances by about $50 in response the tarriffs from the Trump administration announced earlier this week.
LG sells about 18% of the washers in the US.
For imports of large residential washing machines, the Trump administration is slapping a 20% tariffs on the first 1.2 million units annually, then 50% on those imported after that.
It is also putting a 50% tariff on imported washer parts.
Pres. Trump also imposed tariffs on imported solar panels.
The price of Whirlpool stock rose from $166.79 on Monday to the current price of $178.46 today. That is a 7% rise over the last two days of trading.
