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A view of the plant of German carmaker Volkswagen in Osnabrueck, Germany October 7, 2024. Thilo Schmuelgen
A view of the plant of German carmaker Volkswagen in Osnabrueck, Germany October 7, 2024. Thilo Schmuelgen
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Companies eye US expansion to lessen fallout from potential tariffs

January 29th, 2025 | 13:52 PM BUSINESS 2

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European corporate outlook keeps improving as recovery goes beyond energy profits
Broker Marex freezes Radiant World accounts, sources say
Selloff in euro zone bonds continues as yields hit nearly two-decade high
Wall St futures flat after tech rout; Iran tensions, retail earnings in focus
By Reuters

Some companies have said they are looking at expanding their presence or setting up shop in the United States as they prepare for President Donald Trump's potential tariffs.

Below are some of the plans companies have flagged, in alphabetical order.

COMPAL ELECTRONICS (2324.TW)

The Taiwanese contract laptop maker may expand into the U.S. and has spoken to several southern states about a possible investment, CEO Anthony Peter Bonadero said in January, adding that Texas was a leading candidate but no decisions had been made yet.

ESSITY (ESSITYa.ST)

The Swedish hygiene product and tissue maker could move more of its production into the U.S. from Mexico and Canada if tariffs were introduced, CEO Magnus Groth said on Jan. 23.

HYUNDAI MOTOR (005380.KS)

The South Korean automaker said on Jan. 23 it planned to further localize production in the U.S. to minimize any tariff impact. It also said it would make hybrid vehicles at its new factory in Georgia.

INVENTEC (2356.TW)

The Taiwanese company, which makes AI servers that use Nvidia (NVDA.O) chips, has begun evaluating locations for a U.S. investment, favoring Texas due to its proximity to Mexico and power infrastructure, President Jack Tsai said in January.

LG ELECTRONICS (066570.KS)

The South Korean electronics giant is considering moving the manufacturing of refrigerators from Mexico to its factory in Tennessee, which makes washing machine and dryers, a South Korean newspaper reported on Jan. 21.

LVMH (LVMH.PA)

The luxury conglomerate is "seriously considering" bulking up its production capacities in the U.S., CEO Bernard Arnault said on Jan. 28.

SAMSUNG ELECTRONICS (005930.KS)

The South Korean tech giant is considering moving the manufacturing of dryers from its Mexico plant to its plant in South Carolina, Korea Economic Daily reported on Jan. 21.

STELLANTIS (STLAM.MI)

The Chrysler parent is moving forward with plans to build a new midsize pickup truck in Belvidere, Illinois, it said on Jan. 29.

VOLKSWAGEN (VOWG_p.DE)

The German carmaker is considering setting up production sites in the U.S. for its high-end Audi and Porsche (P911_p.DE) brands to avert fallout from tariffs, Handelsblatt reported on Jan. 29. The company did not immediately respond to a Reuters request for comment.

  • Topic
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  • TRUMP/TARIFFS
  • COMPANIES (FACTBOX)
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