WHIRLPOOL CORPORATION (NYSE:WHR) Files An 8-K Other EventsItem 8.01 Other Events
On January 22, 2018, the U.S. Trade Representative announced that President Trump will sign a remedy order in the safeguard petition filed by Whirlpool Corporation (the “Company”) with the U.S. International Trade Commission in May 2017. Effective for three years, the President’s remedy order imposes a 20% tariff on the first 1.2 million large residential washing machines imported by Samsung and LG during the first year, and a 50% tariff on large residential washer imports by Samsung and LG in excess of 1.2 million. The President's remedy order also imposes a 50% tariff on washer tub, drum, and cabinet imports in excess of 50,000 annually. The tariff rates on washers and parts decline slightly during the second and third years of the remedy.
The President’s remedy order will take effect 15 days after the President signs the order.
The Company maintains a website with information on its prior and current fair trade actions at Whirlpoolcorp.com/fair-trade. The Company has disclosed and intends to disclose important information related to the safeguard petition on this website from time to time.
About WHIRLPOOL CORPORATION (NYSE:WHR)
Whirlpool Corporation is a manufacturer and marketer of home appliances. The Company manufactures products in approximately 15 countries and markets products around the world under brand names, such as Whirlpool, KitchenAid, Maytag, Consul, Brastemp, Amana, Bauknecht, Jenn-Air and Indesit. The Company’s segments include North America, Latin America, EMEA (Europe, Middle East and Africa) and Asia. The Company manufactures and markets a line of home appliances and related products. Its principal products are laundry appliances, refrigerators and freezers, cooking appliances, dishwashers, mixers and other portable household appliances. It also produces hermetic compressors for refrigeration systems. In the United States, it market and distribute products primarily under the Whirlpool, Maytag, KitchenAid, Jenn-Air, Amana, Roper, Admiral, Affresh and Gladiator brand names primarily to retailers, distributors and builders.
