NASHVILLE, Tenn. (AP) - Electrolux says its plans for a $250 million plant expansion in Tennessee are on hold, and the Swedish appliance maker is citing President Donald Trump's tariff announcement as the reason.
Electrolux's investment plans included modernizing and adding 400,000 square feet to the plant in Springfield. Construction was slated to begin later this year.
The company is pointing to Trump's announcement of new tariffs on imported aluminum and steel. In a statement to The Tennessean , company spokesperson Eloise Hale says that decision givens foreign appliance manufacturers "a cost advantage that is hard to compete against."
Hale says the company is still evaluating the tariff announcement, but is so concerned about the potential impact that it put the Springfield project on hold until Trump's order is signed and final details are clear.
Information from: The Tennessean, http://www.tennessean.com