Electrolux: to contest US tariffs on imported appliances.
(CercleFinance.com) - Electrolux plans to contest a tariff rate set in an antidumping review by the US Department of Commerce, the Swedish home appliance maker said on Thursday.
Electrolux said that the Department of Commerce has set a preliminary increased tariff rate of 72.4% on washing machines manufactured in Mexico by Electrolux and imported into the US between February 2016 and January 2017.
By comparison, the rate determined by the DOC for period going from February 2015 to January 2016 was 3.7%.
While a decision on the final established rate is still expected to be issued by March 2018, Electrolux said it intends to vigorously contest any unfavourable decision and, if necessary, make an appeal.
If the preliminary tariff rate were to be determined as final, this could represent a one-off cost of up to 70 million dollars in 2018, the company warned.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
Electrolux said that the Department of Commerce has set a preliminary increased tariff rate of 72.4% on washing machines manufactured in Mexico by Electrolux and imported into the US between February 2016 and January 2017.
By comparison, the rate determined by the DOC for period going from February 2015 to January 2016 was 3.7%.
While a decision on the final established rate is still expected to be issued by March 2018, Electrolux said it intends to vigorously contest any unfavourable decision and, if necessary, make an appeal.
If the preliminary tariff rate were to be determined as final, this could represent a one-off cost of up to 70 million dollars in 2018, the company warned.
Copyright (c) 2017 CercleFinance.com. All rights reserved.