May 1, 2019 - Economy & Business
Trump's tariffs are forcing Americans to pay 12% more for washing machines
Washing machines, dryers and other appliances in a home improvement store. Photo: Saul Loeb/AFP/Getty Images
American consumers are paying more for washing machines and dryers as a result of the tariffs Trump imposed in January 2018, NBC reports.
Details: A recent study from the University of Chicago and a Federal Reserve Board governor found that washing machines cost an average of 12% more per appliance, or about $86 to $92 more, after Trump's tariffs on imported machines went into effect. That's both a result of the increased cost of imported machines and because domestic manufacturers like Whirlpool are raising prices.
- Dryers weren't targeted by the tariffs, but those prices are rising for consumers too — the report says that "Americans are paying more than $1.5 billion extra every year from this tariff," per NBC.
Go deeper: Whirlpool gets a trade war boost from price hikes