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Home 2018 May 16 Trade War? 15 Things That Will Cost You More Under Trump’s Tariffs

Trade War? 15 Things That Will Cost You More Under Trump’s Tariffs

6. Washing machines

Consumers can expect prices on washing machines to rise 8 to 20 percent this year, bankers Goldman Sachs told CNBC in January. The prediction came after Trump announced plans to impose a 20 percent tariff on the first 1.2 million imported large residential washing machines the first year and a 50 percent tariff on machines above that number.

The tariff also includes a tax on machine parts, which could drive some costs higher for domestic manufacturers of washing machines as well.

Despite the prediction of higher prices, manufacturers see gains from Trump’s actions. “This is a victory for American workers and consumers alike,” Whirlpool Chairman Jeff Fettig said of the tariffs, promising new manufacturing jobs in Ohio, Kentucky, South Carolina and Tennessee.

Dishwashers from China also are on Trump’s list of proposed tariffs.

May 16, 2018cleverfinance
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