November 22, 2024

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[THE INVESTOR] Samsung Electronics said on Oct. 20 that trade barriers that could be imposed by Washington would have an adverse impact on its building of a new factory in the United States.

Earlier this year, Samsung said it will invest US$380 million in Newberry County, South Carolina, to tap deeper into the North American market for home appliances. Samsung plans to start production at the plant in the first half of 2018.

Samsung made the statement during a hearing held by the US International Trade Commission, which determined earlier this month that Korean tech firms are hurting American companies, such as Whirlpool.

Whirlpool is currently demanding that Washington slap a 50-percent tariff on foreign-made washing machines.

Samsung claimed import restrictions could spark market disruption and result in taking away jobs from South Carolina workers.

The company added that a tariff would disrupt Samsung’s strategy to expand its presence in the US, claiming it originally planned to hire 1,000 workers for its new factory by the end of 2018.

By Alex Lee and newswires (alexlee@heraldcorp.com)