Washing Machines Outline How Trump's Trade War Affects America
- 6 years ago
According to Business Insider, Washing machines offer a simple explanation for how Trump's trade war could cause sticker shock in America.
The Trump administration on Monday enacted a 10% duty on another $200 billion worth of Chinese products. That is in addition to $50 billion worth of import taxes already enacted.
Since then, Americans shopping for washers and dryers have seen a historic rise in prices. Labor Department data showed washing-machine costs rose 15% a month in the three months to August, the most in more than a decade.
The Trump administration on Monday enacted a 10% duty on another $200 billion worth of Chinese products. That is in addition to $50 billion worth of import taxes already enacted.
Since then, Americans shopping for washers and dryers have seen a historic rise in prices. Labor Department data showed washing-machine costs rose 15% a month in the three months to August, the most in more than a decade.