Samsung, LG Seek To Shift Mexican Production To US Amidst Tariff Threat – Report

As President Trump takes charge after winning the November election, his proposed tariffs on Mexico aimed at gaining leverage in negotiations surrounding the flow of drugs and immigrants in the US, South Korean firms with production facilities in the country are reportedly considering shifting their production away from Mexico to the US and Korea. The list of firms includes Samsung, LG, Hyundai and Kia. The firms are also worried about subsidies and grants under the former administration's Inflation Reduction Act (IRA) and the CHIPS and Science Act being targeted either through a repeal or a slower disbursement process, reports the […]