Electrolux: to appeal decision on US tariff rates
(CercleFinance.com) - Electrolux plans to appeal a decision by the US Department of Commerce, which has raised tariff rates on certain imports, the Swedish company said on Wednesday.
The firm said that it has been informed by the Department of Commerce that it has set a final tariff rate of 72.4% on its washing machines imported into the US from Mexico between February 2016 and January 2017.
In a statement, Electrolux said it believes that the company has a "very strong legal case" to contest the decision.
If the tariff rate is not significantly reduced as a result of the appeal process, it could lead to a one-off cost of up to 70 million dollars, the company said.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The firm said that it has been informed by the Department of Commerce that it has set a final tariff rate of 72.4% on its washing machines imported into the US from Mexico between February 2016 and January 2017.
In a statement, Electrolux said it believes that the company has a "very strong legal case" to contest the decision.
If the tariff rate is not significantly reduced as a result of the appeal process, it could lead to a one-off cost of up to 70 million dollars, the company said.
Copyright (c) 2018 CercleFinance.com. All rights reserved.