Europe's largest home appliance maker puts $250 million US investment on hold over Trump's tariff

[riversedge]

Source: Reuters





Reuters 10m


Sweden's Electrolux, Europe's largest home appliance maker, said on Friday it would delay a planned $250 million investment in Tennessee, after US President Donald Trump announced tariffs on imported aluminum and steel.
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"We are putting it on hold. We believe that tariffs could cause a pretty significant increase in the price of steel on the US market," Electrolux spokesman Daniel Frykholm said.

Electrolux buys all the steel it uses in its US products domestically.

"So this is not the possibility of tariffs directly impacting our costs, but rather the impact it could have on the market and that it could damage the overall competitiveness of our operations in the US," Frykholm said. ...........................................

Read more: http://www.businessinsider.com/electrolux-tennessee-plans-on-hold-over-trumps-tariff-2018-3

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Everything is on hold while Trump has his temper tantrum.

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[SCantiGOP]

1. Same thing happened last month in SC

Samsung bought a 1 million SF Caterpillar plant (that was closing) to hire 1,000 to make washing machines in the US.
That’s something Trump would support, right?
2 week’s after their ribbon-cutting he announced tariffs on industrial products from South Korea. The plant is running but that could be short-term.

[Crash2Parties]

2. Soon as Trump figures out

(read: is told by Fox News) that companies will simply stop building here & instead import the steel as finished products, he'll tariff those, too.

And let's not forget: much as some of them pretend to complain, the GOP Congress could stop him any day they please.

[thbobby]

3. trump will destroy America

Putin spent Russia's money well. An idiotic, vengeful, delusional, impulsive sociopath is our president. Racism, bigotry, stupidity, and Putin have cooperated to destroy democracy. White supremacist rejoice! Your hatred of a black patriot is destroying America. And anyone who didn't bother to vote... Well, you get my point.

[politicaljunkie41910]

12. Putin destroying America without firing a shot. This is the new Cold War.

Unless we get rid of this fool, everyone will have his game and know how to run circles around it.

[blue-wave]

4. I was hesitating to say this.

I have seen others post comments to the effect that the investigations must be getting very, very close to home for Trump. So he's upping the ante and creating situations that threaten to destroy our economy and civil/world peace. I believe he thinks he's playing with the country like a game of poker. Bluffing, maybe and upping the ante when he's starting to sweat a little too much. The problem is, this is not poker and he's playing an extremely dangerous game that threatens the whole world. Add me to the list of people who now want to scream, seriously questioning the man's mental stability.

[Lithos]

5. I think it's simpler

I think it's a case of control. He's feeling out of control and doing something which makes him feel like he's the one in charge.

A bit like a two year old who decides he's made and poops in his own pants. Yes, it was within their power, but the outcome is still one big stink with significant blowback.

L-

[Chemisse]

10. I agree. There is no great thinker behind these moves.

Trump is driven by his base emotions.

[Cha]

6. But her damn emails

[SergeStorms]

7. "Wall Street does not like to hear the words 'trade war.'"

But trade wars are so "easy to win". With the greatest negotiator in the world on the job, what could possibly go wrong? It's a piece of cake.

One thing I've noticed about Americans, beer sales won't drop off too far because of this. Americans always seem to find the money for their alcohol. During past recessions beer sales have always remained steady. They may drink cheaper beer but they'll never completely give up their suds.

[BumRushDaShow]

9. They'll just buy it in bottles...

[Lucinda]

8. KNR Thank you!

[bronxiteforever]

11. Winning so much winning