Trump Tariff raises the price of Washing Machines by close to $100 (cost, dollars)
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A little more than a year after President Donald Trump slapped a 20 percent tariff on imported washing machines, new research finds that American shoppers have been the ones to pay the price.
A study conducted by two researchers at the University of Chicago and a Federal Reserve Board Governor found that washers cost an average of 12 percent more after the imposition of the tariffs, or roughly $86 to $92 more per appliance.
“It’s a good example of how the benefits of free trade are extremely diffuse but then the benefits of protectionism are concentrated,” said David Dollar, a senior fellow at the Brookings Institution.
Also, due to tariffs, Farmer income fell in the last quarter the most since 2016.
Quote:
The report provided fresh evidence of the growing financial strain on U.S. farmers hit by the trade war, low commodity prices and a series of natural disasters including spring floods in the Midwest. With rural voters a key part of Trump’s electoral coalition, it also underscores the political pressure to conclude the China trade war as U.S. negotiators begin another round of talks in Beijing this week.
You wanna pay down the national debt, then you are going to have to endure some pain. You guys did this to yourselves by favoring commies in China and throwing your fellow workers to the curb and in the poor house. Then you started a whole bunch of unsustainable social engineering projects that solve nothing but add tremendously to the national debt. Americans never had a problem affording American made products until the government stepped in and screwed everything up. Something they are famous for.
And besides, I thought lefties wanted more taxes? We can be just like France! Look how happy they are with socialism and massive taxes! At least tarrifs are an optional tax. You can buy the American made product and not pay the tax, or wash your cloths the old fashion way, like they are doing in Venezuela.
Last edited by Ibginnie; 05-06-2019 at 06:51 AM..
Reason: deleted quoted post
Pay down the national debt? When is that going to happen?
Budget deficit just added another trillion dollars.
When more Americans are making washing machines (and other consumer products) to serve domestic demand. Manufacturing does far more good for the economy and tax man than McDonalds and Walmart. It worked quite well in the past and will work well when lefty social engineering pet projects are done away with.
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