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Electrolux to put $250-mn investment on hold after Trump's tariff proposals

The company is waiting to see the final details of the U.S. plans before making a final decision

Reuters  |  Stockholm 

Electrolux
Electrolux

Sweden's Electrolux, Europe's largest home appliance maker, said on Friday it would delay a planned $250 million investment in Tennessee, after U.S. announced tariffs on imported aluminium and

On Thursday, Trump said the duties -- 25 percent on imports and 10 percent on aluminium -- would be formally announced next week, although officials later said some details still needed to be ironed out.

"We are putting it on hold. We believe that tariffs could cause a pretty significant increase in the price of on the U.S. market," said.

buys all the it uses in its U.S. products domestically.

"So this is not the possibility of tariffs directly impacting our costs, but rather the impact it could have on the market and that it could damage the overall competitiveness of our operations in the U.S.," Frykholm said.

The company is waiting to see the final details of the U.S. plans before making a final decision, he said.

had said in January it would invest $250 million to expand and modernize its plant in Springfield,

First Published: Fri, March 02 2018. 20:26 IST
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