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Electrolux books $85 million tariffs case related charge in Q4 – Metro US

Electrolux books $85 million tariffs case related charge in Q4

FILE PHOTO: The Electrolux logo is seen during the IFA
FILE PHOTO: The Electrolux logo is seen during the IFA Electronics show in Berlin, Germany

STOCKHOLM (Reuters) – Electrolux will charge $85 million to earnings in the fourth quarter after an appeals panel upheld a U.S. Department of Commerce decision regarding tariffs on washing machines imported into the U.S. from Mexico in 2016 and 2017.

Europe’s biggest appliances maker said late on Wednesday the expense would affect the operating profit of business area North America, reducing its income for the period by $63 million.

The Swedish group is scheduled to publish its full-year earnings report on Friday.

(Reporting by Anna Ringstrom, editing by Helena Soderpalm)

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