December 22, 2024

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LG Electronics' headquarters Twin Towers in Yeouido, Seoul (Yonhap)

South Korean electronics giant LG Electronics has hired a new lobbying firm in the US to bolster its negotiating leverage with Washington, amid rising concerns over US President-elect Donald Trump’s tariff threats.

According to a US disclosure report Tuesday, LG Electronics USA, the company’s US office, has recently hired Capitol Counsel, a government relations firm in Washington, to lobby on trade and supply chain issues.

Lisa Whisler, a lobbyist at the Capitol Counsel, has been appointed to represent LG, according to the registration document. Whisler previously served as a senior policy advisor for former Senator Max Baucus, who held the position of US Ambassador to China under the Obama administration. Her expertise spans national security and international affairs.

The global industry is on edge following Trump’s election to a second term as president, as he has vowed to impose tariffs of up to 20 percent on all US imports. Under the plan, foreign companies would have to sell their products at higher prices in the US, leading Americans to pay more for everything foreign-made.

For LG Electronics, Trump’s proposed tariffs pose a threat, given that it is one of the leading electronics appliances suppliers in the US. In 2023, the company captured 19 percent of the US home appliances market share after Samsung Electronics, which took 21 percent share, according to market tracker TraQline.

American rivals General Electric and Whirlpool Corp. came in third and fourth with 18 percent and 15 percent market shares, respectively.

By Jo He-rim (herim@heraldcorp.com)