GE Appliances plans to shift production of refrigerators, gas ranges and water heaters out of China and Mexico as part of a more than $3 billion investment to expand its U.S. operations

Haier-owned GE Appliances said on Wednesday it plans to invest more than $3 billion over five years in its U.S. operations and workforce following the Trump administration's tariff policies aimed at boosting domestic manufacturing.

The appliance giant's multi-billion dollar strategy involves bringing production back to the U.S.