50% U.S. Tariffs on Home Appliances... Government Assesses Impact with "Home Appliance Industry Joint Response TF"

Emergency Inspection Meeting Held by the Ministry of Trade, Industry and Energy
with Home Appliance Companies, Associations, and Organizations

As the Trump administration in the United States has decided to impose tariffs on steel used in home appliances, the South Korean government has begun assessing the impact on the home appliance industry and preparing support measures.

The Ministry of Trade, Industry and Energy announced on June 13 that it held an emergency meeting to review the "U.S. Steel and Aluminum Derivative Product Tariffs" with related home appliance companies, associations, and organizations.

The meeting was presided over by Lee Seungryul, Director General for Industrial Policy at the Ministry of Trade, Industry and Energy, and attended by executives and representatives from home appliance companies and their partners, including Samsung Electronics and LG Electronics. The participants discussed in detail the impact on the home appliance industry and possible responses, as major products such as refrigerators have been included in the scope of tariffs on steel and aluminum derivative products.

On June 12 (local time), the U.S. Department of Commerce added home appliances to the list of products subject to a 50% tariff on steel and aluminum derivative products. The newly added products include refrigerators, dryers, washing machines, dishwashers, freezers, ovens, and food waste disposers.

A Ministry official stated, "In the case of home appliances, there is a wide variety of items such as washing machines, and the impact of the tariffs differs by product. We will closely monitor developments in the United States, thoroughly assess both domestic and international impacts, and discuss response strategies in depth."

To maintain close communication with the home appliance industry, the Ministry plans to continue operating the "Home Appliance Industry Joint Response Task Force (TF)" to assess the impact on home appliance companies and small and medium-sized partner firms, and to devise support measures.