Welcome to DU!
The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards.
Join the community:
Create a free account
Support DU (and get rid of ads!):
Become a Star Member
Latest Breaking News
General Discussion
The DU Lounge
All Forums
Issue Forums
Culture Forums
Alliance Forums
Region Forums
Support Forums
Help & Search
Whirlpool Wanted Washer Tariffs. It Wasn't Ready for a Trade Showdown.
https://www.msn.com/en-us/money/companies/whirlpool-wanted-washer-tariffs-it-wasn-t-ready-for-a-trade-showdown/ar-AAAadUL?ocid=AMZNAfter the Trump administration announced new tariffs on imported washing machines in January, Marc Bitzer, the chief executive of Whirlpool Corp., celebrated his win over South Korean competitors LG Electronics Inc. and Samsung Electronics Co.
“This is, without any doubt, a positive catalyst for Whirlpool,” he said on an investor conference call.
Nearly six months later, the company’s share price is down 15%. One factor is a separate set of tariffs on steel and aluminum, imposed by the U.S. in March and later expanded, that helped drive up Whirlpool’s raw-materials costs. Net income, even with the added benefit of a lower tax bill, was down $64 million in the first quarter compared with a year earlier.
...
Prices have risen for the least-expensive washing machines, according to research by financial-data-analysis firm Thinknum for The Wall Street Journal. Whirlpool’s least-expensive model among a group tracked by Thinknum jumped from an average price of $329 in January to $429 in June. Samsung’s rose from $494 to $582, while LG’s rose from $629 to $703. Price increases at the lower end are most likely to be felt by consumers.
“This is, without any doubt, a positive catalyst for Whirlpool,” he said on an investor conference call.
Nearly six months later, the company’s share price is down 15%. One factor is a separate set of tariffs on steel and aluminum, imposed by the U.S. in March and later expanded, that helped drive up Whirlpool’s raw-materials costs. Net income, even with the added benefit of a lower tax bill, was down $64 million in the first quarter compared with a year earlier.
...
Prices have risen for the least-expensive washing machines, according to research by financial-data-analysis firm Thinknum for The Wall Street Journal. Whirlpool’s least-expensive model among a group tracked by Thinknum jumped from an average price of $329 in January to $429 in June. Samsung’s rose from $494 to $582, while LG’s rose from $629 to $703. Price increases at the lower end are most likely to be felt by consumers.
11 replies
= new reply since forum marked as read
= new reply since forum marked as read
Even so, you'll probably pay a premium over its price six months ago, but I bet it's much less. 
