LG considering moving some production to the US and raising prices due to Trump tariffs

South Korean company LG Electronics said it may raise prices on some products due to the possible renewal of U.S. tariffs. In addition, the company is considering moving production of washing machines and dryers to its plant in the U.S. state of Tennessee, Reuters reports.

This was stated by LG Senior Vice President Kim Yi-kyun during a conference call after the announcement of financial results. He noted that the Tennessee plant could provide up to 20% of LG's home appliance sales in the US market.

LG warns that the possible introduction of tariffs could significantly affect the business from the third quarter of 2025. To mitigate the impact, the company has developed a phased price increase strategy, which will be implemented in cooperation with trading partners.

Although US President Donald Trump has postponed the introduction of new tariffs until July, LG is already preparing for possible developments.