January 23, 2018 / 1:09 AM / 4 months ago

LG Elec says U.S. tariff move on washing machines is 'misguided decision'

SEOUL (Reuters) - LG Electronics Co Ltd (066570.KS) said on Tuesday it is disappointed in the U.S. government’s move to impose tariffs on its imported washing machines, calling it a “misguided decision”.

“This is a textbook case about how certain companies can game the process to use trade laws to try to accomplish what they can’t accomplish in the marketplace,” LG said in a statement, adding the decision hinders the ramp-up of LG’s planned new plant in Tennessee and threatens new U.S. jobs.

U.S. President Donald Trump slapped steep tariffs on imported washing machines and solar panels on Monday, marking his first moves to erect trade restrictions under seldom-used trade laws that allow unilateral actions.

    Reporting by Joyce Lee; Editing by Edwina Gibbs

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