SEOUL: Samsung Electronics’ television business is expected to be less affected by US tariffs than rivals because its TVs are mainly produced in Mexico, an executive said on Monday.
Still, Samsung, the world’s top TV maker, will continue to watch the changing U.S. tariff policy, and depending on tariffs, it plans to allocate production accordingly across about 10 production bases around the world, said Yong Seok-woo, president of the visual display business at Samsung.
Mexico largely escaped Trump’s new 10 per cent global baseline tariff and steeper “reciprocal tariffs” for many trading partners on Wednesday.
In contrast, China will be hit with a 34 per cent US tariff, on top of the 20 per cent previously imposed earlier this year, bringing the total new levies to 54 per cent.
Samsung faces increasing competition in the TV market from Chinese companies like TCL and Hisense.
