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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 

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

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