This article depicts how Trump's tariffs on washing machines has raised the prices of both washers and dryers for US consumers. Even though the tariff has created more jobs for the US economy, the financial burden felt by consumers outweighs the benefits of the decision by increasing consumer prices by $1.5 billion dollars. It will be interesting to see what happens in this market in the near future and if the government will subsidize the cost of laundry equipment. Even though the tariff only affects washing machines, consumers typically purchase a washer and dryer as a bundle. therefore, manufactures raised the prices of dryers as a way to even out the cost of the two machines.
https://www.nytimes.com/2019/04/21/business/trump-tariffs-washing-machines.html
2 comments:
As said in the article, the tariff may benefit the US companies since they can also increase the price of their products. Unfortunately it would be a bit more expensive for consumers. Although the tariff's been creating jobs, the article says it is with a high cost, and Obama was creating more with the same amount.
Interesting article Jared, I don't see the government subsidizing the cost of the laundry equipment in the near future. Since this tariff has caused there has been a increase in consumer prices. I could potentially see the use of public laundry mats increase.
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