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South Korea's LG to increase washing machine prices in the US

South Korean electronics manufacturer LG Electronics Inc. said it expects to increase the price of washing machines in the U.S. by 4% to 8%, Reuters reported Feb. 8.

The planned price hike comes after the Trump administration's approval of a tariff of up to 50% on certain large residential washer imports.

LG did not specify when the 4% to 8% increase would take place, according to Reuters. Meanwhile, a South Korean newspaper said LG and South Korean rival Samsung Electronics Co. Ltd. plan to increase prices in the U.S. by 5% to 10% in the second quarter.

LG also told Reuters that the company will focus on the sale of its premium washing machines that are priced at $900 and above in the U.S.

Samsung did not have an immediate comment for the publication but previously said "it was reviewing the implications of the U.S. decision and any changes would be discussed with its business partners directly."