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South Korea’s Samsung Electronics and a minimum of one different equipment maker are contemplating transferring some operations from their vegetation in Mexico to their U.S. ones.
The revision is in response to President Donald Trump’s consideration of imposing 25% tariffs on imports from Canada and Mexico on Feb. 1, a South Korean newspaper reported Tuesday.
Samsung is contemplating transferring dryer manufacturing at present underway at its Querétaro plant to a plant in South Carolina, based on the Korean business newspaper. The newspaper stories that the South Carolina plant’s predominant product is washing machines.
The US facility in Newberry County, South Carolina, was established in 2017, Samsung’s website says so. It was Samsung Electronics Home Appliances America’s (SEHA) first house equipment manufacturing plant primarily based within the United States.
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People stroll previous the Samsung Electronics brand exterior the corporate’s Seocho constructing in Seoul on July 7, 2022. (JUNG YEON-JE/AFP through Getty Images/Getty Images)
“Previously every part got here from throughout the ocean, so if we had components shortages, delays, materials defects, we might have needed to wait ceaselessly,” SEHA manufacturing director Bobby Stevens mentioned in a 2023 assertion.
“But now we’ve got native materials, so inside just a few hours and even 10 minutes we will get the components and supplies we have to make every part work, so this has had a big effect on manufacturing right here,” he mentioned.
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A Samsung Electronics Co. washer and dryer are displayed on the market on the airport equipment retailer in San Jose, California, Tuesday, July 30, 2019. (David Paul Morris/Bloomberg/Getty Images)
The Newberry facility has generated “almost $500 million in capital funding for the area” and instantly helps “over 1,500 jobs for native residents as a part of its ongoing operations,” Samsung mentioned within the assertion.
LG Electronics is contemplating transferring its Mexican fridge operations to its washer and dryer plant in Tennessee, Korea, Economic Daily reported.
| Ticker | Safety | Last | Edit | Change % |
|---|---|---|---|---|
| SSNLF | SAMSUNG ELECTRONICS CO. LTD. | 40.5999 | -17.15 | -29.70% |
Samsung Electronics Co. and LG Electronics Inc. washing machines are on show on the market on the airport equipment retailer in San Jose, California, Tuesday, July 30, 2019. (David Paul Morris/Bloomberg through Getty Images/Getty Images)
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Samsung mentioned it plans to watch the scenario and reply flexibly, because it operates manufacturing bases in lots of areas of the world. LG Electronics mentioned it intends to answer market adjustments by adapting its manufacturing system and manufacturing websites.
“If we construct a manufacturing unit within the United States, not solely will we be capable to keep away from tariffs, however we can even have the agility to ship merchandise instantly when clients need them,” an nameless business supply informed the media. “If we produce in a U.S. plant, we will cut back the provision interval of native product by 1 / 4.”
Reuters contributed to this report.
