LG to raise US prices after Asian exporters hit by ‘America First’ tariffs 

LG to raise US prices after Asian exporters hit by ‘America First’ tariffs 

25/01/18

Luke Foddy, Communications Manager

New US import tariffs on solar panels and washing machines announced this week have been condemned by key Asian exporters including China and South Korea.

The tariffs, which US President Trump pursued as part of his ‘America First’ policy, include rises in duties by as much as 50 per cent in some instances, according to BBC analysis.

The move has been fiercely condemned by exporters, with the South Korean government announcing it will make a formal complaint to the World Trade Organization, the Straits Times reports.

And today, major South Korean manufacturer LG Electronics has said it will raise prices in the US in light of the tariffs, the Wall Street Journal reports.

President Trump’s ‘America First’ policy has already had an impact on global trade, with the US withdrawing from the Trans Pacific Partnership last year. But some commentators argue that Trump’s actions are in line with his election pledge to secure US manufacturing jobs.

When he issued the tariffs this week, President Trump said, “You’re going to have people getting jobs again and we’re going to make our own product again. It’s been a long time,” Reuters reported.