Trade wars slow the economy. Electrolux has halted a planned expansion of a Tennessee factory.
Reuters – March 2, 2018 - Sweden’s Electrolux (ELUXb.ST), Europe’s largest home appliance maker, said on Friday it would delay a planned $250 million investment in Tennessee, after U.S. President Donald Trump announced tariffs on imported aluminum and steel.
“We are putting it on hold. We believe that tariffs could cause a pretty significant increase in the price of steel on the U.S. market,” Electrolux spokesman Daniel Frykholm said.