According to a report from Reuters, Samsung Electronics may build a new plant in the US to manufacture home appliances. The new U.S. President Donald Trump and his administration have threatened to impose an additional import tax on products manufactured abroad for US consumers, creating panic among many brands. Samsung’s plan might be a response to the same criticism.
The South Korean electronics giant is yet to decide the scale of investment and the number of products that might be manufactured at its upcoming plant. The company declined to comment on the matter, but it said that it has already made significant investments in the country, including a $17 billion chip plant in Austin, Texas. “We continue to evaluate new investment needs in the U.S. that can help us best serve our customers,” it said in response to Reuters.
Even though South Korean brands haven’t been singled out yet, companies like Hyundai and LG have started making promises regarding increased investments in the US. However, if a border tax is imposed, it would become essential for Samsung and other foreign brands to set up manufacturing plants in the US. LG is already considering Tennessee as a location to set up its new home appliances and television plant.
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