the free trade debate #6
Whirlpool claims its foreign competitors engage in unfair competition. What are examples in the video of what "unfair competition " means
-Companies getting direct funding (subsidies) from the government -Companies selling their washing machines at prices lower than their cost of production -Companies selling their washing machines at prices lower than what they're charging for the same washing machines back home
With respect to the charge that LG and Samsung take advantage of unfair trade practices as far as washing machines are concerned
-U.S regulators in the Obama and Trump administrations have repeatedly agreed that the companies are breaking international trade rules -LG and Samsung have agreed they follow the rules 100%, and simply have better products than Whirlpool
to get Samsung and LG to invest in their states
South Carolina and Tennessee have offered significant investment incentives, similar to the advantage the firms received in South Korea
because Samsung and LG faced retaliatory tariffs place on them by U.S regulators
They moved some production to China (later Thailand, Vietnam, and the U.S) , which didn't face the tariffs place on South Korea
as a result of the trade conflict over washing machines
the price of both foreign and domestically produced washers has gone up
because of the new tariffs placed on imported steel, aluminum, and other products by the Trump administration, the video points to which specific product the Canadians and Europeans area targeting for retaliation
washing machines
