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Electrolux books $85 mln tariffs case related charge in Q4

Europe Materials 27 January 2022 11:03
Electrolux books $85 mln tariffs case related charge in Q4

Electrolux will charge $85 million to earnings in the fourth quarter after an appeals panel upheld a U.S. Department of Commerce decision regarding tariffs on washing machines imported into the U.S. from Mexico in 2016 and 2017, Trend reports with reference to Reuters.

Europe's biggest appliances maker said late on Wednesday the expense would affect the operating profit of business area North America, reducing its income for the period by $63 million.

The Swedish group is scheduled to publish its full-year earnings report on Friday.

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