Washing Machine Tariffs Are Still Putting Consumers Through the Wringers

The Daily Signal | 7/17/2019 | Staff
k.collazi (Posted by) Level 3
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Derek Hosford is a member of the Young Leaders Program at The Heritage Foundation.

Tori Whiting is the Jay Van Andel trade economist in the Thomas A. Roe Institute for Economic Policy Studies at The Heritage Foundation.

Tariffs - Families - % - Washing - Machines

While tariffs are forcing American families to pay 12% more for their washing machines, 12 members of Congress from Ohio—from both sides of the political aisle—are urging President Donald Trump to maintain tariffs on washers.

These tariffs, which range from 20% to 50%, were imposed back in January 2018 after an investigation that determined the domestic washer industry was being injured by imports, when the primary domestic manufacturer affected was just one firm; namely, Whirlpool.

Decision - Tariffs - Duties - Machine - Parts

Since that decision, washer tariffs and additional duties on washing machine parts have resulted in minimal job creation for Whirlpool.

These tariffs are on top of the steel and aluminum tariffs imposed in 2018, both of which are vital inputs for washer manufacturing. Marc Bitzer, the company’s CEO, stated that “the net impact of all remedies and tariffs has turned into a headwind for us.”

Results - Whirlpool - Statement - Show - Decrease

Results from Whirlpool’s recent first-quarter statement show a significant decrease in units sold, from 8 million to 6 million, and a loss of about $500 million in revenues. That’s no doubt a reaction from American families to the increased prices.

Recent studies indicate that washing machine prices have increased $86 per unit since the tariffs were introduced. Despite having had no tariffs placed on...
(Excerpt) Read more at: The Daily Signal
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