Samsung Electronics (KRX:005930) and LG Electronics (KRX:066570) are evaluating the impact of a new US government decision to impose a 50% steel tariff on imported home appliances, effective June 23, Yonhap News reported Friday.
The tariff will be based on the steel content in products such as refrigerators and washing machines, the report cited a notice from the U.S. Commerce Department.
While both the electronic product makers manufacture some appliances in the US, several key products are manufactured in South Korea, Mexico, and Vietnam, which could make the impact from the tariffs substantial, it said.
Shares of Samsung Electronics fell nearly 2% at market close on Monday.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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