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