Electrolux files $85 million fee related to fourth-quarter tariff case

Electrolux files $85 million fee related to fourth-quarter tariff case

Electrolux will charge $85 million to profit in the final quarter after an appeals panel upheld a U.S. Department of Commerce choice in regards to duties on washing machines brought into the U.S. from Mexico in 2016 and 2017. Europe’s greatest appliances producer said late on Wednesday the cost would affect the operating profit of business region North America, decreasing its income for the period by $63 million. The Swedish group is scheduled to distribute its full-year income report on Friday.

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