Now Hiring
My Account
  • 816-331-1515
    913-327-1515

The Appliance Care Company Blog

Thursday, Feb. 8th 2018

LG Price Increase Starts March 8

LG will raise prices on washing machines between four and eight percent, LG Spokesman John Taylor told Reuters. The new prices will take effect March 8 and be about $50 per machine, Taylor said.

As reported last month, LG is increasing its prices after President Trump imposed a three-year tariff on imported, large residential washing machines and washing machine parts in January. 

Reuters cited a report in Korea Economic Daily that both LG and Samsung are in discussion with major U.S. retailers about price increases and would raise prices in the second quarter.

Samsung would not comment on possible price hikes.

The tariff rate is 20% on the first 1.2 million washing machines imported in year one, with a 50% rate on subsequent imports. The tariff drops to 18% in year two and 16% in year three, with the subsequent import rate dropping to 45% and 40%. The tariff applies to all countries except Canada.

The same tariff rates apply to covered parts, excluding the first 50,000 units in year one, 70,000 units in year two and 90,000 units in year three.

A company spokeswoman told Reuters LG will concentrate on selling premium washers, priced at $900 or higher.


Posted in Appliance Education | Comments Off on LG Price Increase Starts March 8


Comments are closed.

Location

The Appliance Care Company
706 N. Scott Ave.
Belton, MO. 64012

Monday-Friday - 8AM-7PM
Saturday - 8AM-4PM
Sunday - 12PM-4PM

Contact Us

  • 816-331-1515
  • 913-327-1515

Contact Us

The Appliance Care Company, LLC © All Rights Reserved. Privacy Policy

Site Created by KC Web Specialists, LLC