Samsung Electronics' television business is reportedly less impacted by the tariffs imposed by the Donald Trump government. And the reason is Mexico. According to a report by news agency Reuters, Samsung is likely to be less affected by the US tariffs than rivals because most of its TVs sold in North America are produced in Mexico. The same was disclosed by a senior Samsung executive.
Samsung faces increasing competition in the TV market from Chinese companies like TCL and Hisense.
White House announces no additional tariffs on Canada and Mexico
Mexico largely escaped Trump's new 10% global baseline tariff and steeper "reciprocal tariffs" for many trading partners. In a statement, the White House said the 10% baseline rate does not apply to Canada and Mexico, since they have already been targeted during Trump's presidency. The statement added that it would deal with both countries using a framework set out in Trump's previous executive orders, which imposed tariffs on both countries as part of the administration's efforts to address the entry of fentanyl to the US and border issues.
In contrast, China, another big geography where Samsung TVs are manufactured, will be hit with a 34% US tariff, on top of the 20% previously imposed earlier this year, bringing the total new levies to 54%.
Samsung says following wait and watch policy
The world's largest TV maker Samsung is, however, cautious on the market. The company said that it will continue to watch the changing U.S. tariff policy. Yong Seok-woo, president of the visual display business at Samsung, told Reuters that depending on Trump Tariffs for countries across the world, Samsung plans to allocate production accordingly across about its 10 production bases around the world.
Samsung is also bracing for the impact from US tariffs on its other mainstay businesses such as memory chips and smartphones. The company has a huge manufacturing base in Vietnam, which too has been hit by heavy tariffs. The matter is serious as Samsung's manufacturing set-up in Vietnam has exports of around $55 billion. "Samsung will find it better to ship from India at a duty of 26% than export from Vietnam. While this will be a temporary measure till the Vietnamese govt negotiates with the US, it adds a lot of importance to Make in India," an official told TOI. Vietnam has proposed zero duty for US exports. Samsung's factory in Noida makes smartphones, including S25 and Samsung ZFold.
Samsung faces increasing competition in the TV market from Chinese companies like TCL and Hisense.
White House announces no additional tariffs on Canada and Mexico
Mexico largely escaped Trump's new 10% global baseline tariff and steeper "reciprocal tariffs" for many trading partners. In a statement, the White House said the 10% baseline rate does not apply to Canada and Mexico, since they have already been targeted during Trump's presidency. The statement added that it would deal with both countries using a framework set out in Trump's previous executive orders, which imposed tariffs on both countries as part of the administration's efforts to address the entry of fentanyl to the US and border issues.
In contrast, China, another big geography where Samsung TVs are manufactured, will be hit with a 34% US tariff, on top of the 20% previously imposed earlier this year, bringing the total new levies to 54%.
Samsung says following wait and watch policy
The world's largest TV maker Samsung is, however, cautious on the market. The company said that it will continue to watch the changing U.S. tariff policy. Yong Seok-woo, president of the visual display business at Samsung, told Reuters that depending on Trump Tariffs for countries across the world, Samsung plans to allocate production accordingly across about its 10 production bases around the world.
Samsung is also bracing for the impact from US tariffs on its other mainstay businesses such as memory chips and smartphones. The company has a huge manufacturing base in Vietnam, which too has been hit by heavy tariffs. The matter is serious as Samsung's manufacturing set-up in Vietnam has exports of around $55 billion. "Samsung will find it better to ship from India at a duty of 26% than export from Vietnam. While this will be a temporary measure till the Vietnamese govt negotiates with the US, it adds a lot of importance to Make in India," an official told TOI. Vietnam has proposed zero duty for US exports. Samsung's factory in Noida makes smartphones, including S25 and Samsung ZFold.
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