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Trump’s washing-machine tariffs cost U.S. consumers $815,000 for every job created

MTAtech

MTAtech

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[h=1]Trump’s washing-machine tariffs cost U.S. consumers $815,000 for every job created[/h]


President Trump has repeatedly sought to portray his tariffs on Chinese goods as a major windfall for the U.S. treasury that has extracted “billions of dollars” from China. But the reality is that tariffs are typically absorbed by consumers in the form of higher prices.

And now a new study shows just how big that markup can be.

When economists at the University of Chicago and the Federal Reserve studied the 2018 duty on washing machines, they found the expected rise in retail prices from foreign manufacturers such as Samsung and LG. Surprisingly, though, these brands also increased dryer prices. Then domestic manufacturers followed suit, simply because they could.

All told, the research shows, U.S. consumers are spending an additional $1.5 billion a year on washers and dryers as a result of the tariffs. That’s an extra $86 for each washing machine and $92 for each dryer, the authors estimate.
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The bottom line is that washing machines and dryers are now more expensive -- not just foreign made washing machines and dryers -- domestic manufacturers jacked up the prices to match the foreign ones. Thus, consumers are getting hit with far higher prices. Are we tired of winning yet?
 
MTAtech said:
[h=1]Trump’s washing-machine tariffs cost U.S. consumers $815,000 for every job created[/h]


The bottom line is that washing machines and dryers are now more expensive -- not just foreign made washing machines and dryers -- domestic manufacturers jacked up the prices to match the foreign ones. Thus, consumers are getting hit with far higher prices. Are we tired of winning yet?
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Just come on up here and buy your appliances. Bring an RV to haul back across the border. Rinse and repeat. :)

Given how often we cross border shopped through the years, it's only fair that we should now return the favor.
 
Washing machine tariffs? Can that man get any more ignorant?

All this winning.
 
MTAtech said:
[h=1]Trump’s washing-machine tariffs cost U.S. consumers $815,000 for every job created[/h]


The bottom line is that washing machines and dryers are now more expensive -- not just foreign made washing machines and dryers -- domestic manufacturers jacked up the prices to match the foreign ones. Thus, consumers are getting hit with far higher prices. Are we tired of winning yet?
Click to expand...

When exactly do you believe those terrible tariffs will impact the economic numbers of this country since we just met the DOW high yesterday after having 4 rate hikes in 2018?
 
MTAtech said:
[h=1]Trump’s washing-machine tariffs cost U.S. consumers $815,000 for every job created[/h]


The bottom line is that washing machines and dryers are now more expensive -- not just foreign made washing machines and dryers -- domestic manufacturers jacked up the prices to match the foreign ones. Thus, consumers are getting hit with far higher prices. Are we tired of winning yet?
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The prices of a lot of goods seem to be rising at very fast rates. But low-income Americans can afford it, with all those savings on their Federal Income Taxes :roll:
 
Media_Truth said:
The prices of a lot of goods seem to be rising at very fast rates. But low-income Americans can afford it, with all those savings on their Federal Income Taxes :roll:
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Who could have possibly predicted that putting tariffs on aluminum and steel would cause price increases on goods made from aluminum and steel? Oh, just about everyone who understands trade policy, which is the underlying problem. Important economic issues are now being made by neophytes.

Moreover, rural America has not economically improved in Trumpworld. In fact, tariffs that hurt farmers as well as tariffs that hurt auto manufacturing are a rude sting for those that voted for #45. Well, we warned them.
 
Tweety's tariffs are a consumer tax increase. his zombies like tax increases now as long as he tells them to.
 
MTAtech said:
[h=1]Trump’s washing-machine tariffs cost U.S. consumers $815,000 for every job created[/h]


The bottom line is that washing machines and dryers are now more expensive -- not just foreign made washing machines and dryers -- domestic manufacturers jacked up the prices to match the foreign ones. Thus, consumers are getting hit with far higher prices. Are we tired of winning yet?
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Seeing as they were never really cheap and we can still afford them now... no. Not really tired of winning just yet.

Though I am getting tired of your constant whining, if I'm going to be totally candid with you.
 
Helix said:
Tweety's tariffs are a consumer tax increase. his zombies like tax increases now as long as he tells them to.
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It's even worse than that. According to the article, yes consumers pay the tariffs, that are taxes. However, domestic producers, who aren't subjected to the tariffs, are raising prices because their foreign competition's prices rose because of the tariffs. The same thing happened with steel. So, not only do American consumers pay an extra tax, they pay higher prices too. MAGA <> Winning
 
Oborosen said:
Seeing as they were never really cheap and we can still afford them now... no. Not really tired of winning just yet.

Though I am getting tired of your constant whining, if I'm going to be totally candid with you.
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So sorry to tell you what you don't want to hear. But the idea that as long as 'we can afford washing machines, even if they are now more expensive,' we're winning, makes no sense.
 
MTAtech said:
So sorry to tell you what you don't want to hear. But the idea that as long as 'we can afford washing machines, even if they are now more expensive,' we're winning, makes no sense.
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Alright, how much more expensive are they and compare that to how much more people are earning today.
 
MTAtech said:
[h=1]Trump’s washing-machine tariffs cost U.S. consumers $815,000 for every job created[/h]


The bottom line is that washing machines and dryers are now more expensive -- not just foreign made washing machines and dryers -- domestic manufacturers jacked up the prices to match the foreign ones. Thus, consumers are getting hit with far higher prices. Are we tired of winning yet?
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Do you not understand the ultimate goal here? Or is your vision of things not able to penetrate your irrational hatred of Trump.
 
Oborosen said:
Alright, how much more expensive are they and compare that to how much more people are earning today.
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Real wages are up less than 1% and we can be assured that washers and driers are up more than that.
 
Fletch said:
Do you not understand the ultimate goal here? Or is your vision of things not able to penetrate your irrational hatred of Trump.
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Conversely, whatever the vague goal, the effect is overall negative, but Trump worship has you dismiss anything that blocks golden light from your messiah.
 
MTAtech said:
Real wages are up less than 1% and we can be assured that washers and driers are up more than that.
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Personal experience. Four years ago, my washing machine cost around 650$ not including tax and the warranty.

Pretty decent year and make. The closest comparison I can find on such short notice is a Samsung WF6100. at 809$ full...

You were saying?
 
Oborosen said:
Personal experience. Four years ago, my washing machine cost around 650$ not including tax and the warranty.

Pretty decent year and make. The closest comparison I can find on such short notice is a Samsung WF6100. at 809$ full...

You were saying?
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That is a HUGE increase!!! You just reinforced the OP's point.
 
MTAtech said:
It's even worse than that. According to the article, yes consumers pay the tariffs, that are taxes. However, domestic producers, who aren't subjected to the tariffs, are raising prices because their foreign competition's prices rose because of the tariffs. The same thing happened with steel. So, not only do American consumers pay an extra tax, they pay higher prices too. MAGA <> Winning
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It's dumb policy, which is to be expected, as Trumpism is idiotic.
 
MTAtech said:
Conversely, whatever the vague goal, the effect is overall negative, but Trump worship has you dismiss anything that blocks golden light from your messiah.
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Uh, no. :roll: The effort to get China to improve its trade practices is one I would support no matter who is president. It is your obsession with Trump that leads you to oppose it, not some rational or principled thought. If you were actually able to think clearly you would know that the best time to take on China is now, while our economy is strong. Nevertheless, when there is a deal reached with China, you will be the first to come her and blast it for its inadequacy.
 
Helix said:
It's dumb policy, which is to be expected, as Trumpism is idiotic.
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Attempting to bring an end to Chinas unfair trade policies is only idiotic to the mindless Trump hater.
 
Fletch said:
Attempting to bring an end to Chinas unfair trade policies is only idiotic to the mindless Trump hater.
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it's a consumer tax increase. what other tax increases do you support? mostly just the ones that affect lower income people?
 
Helix said:
it's a consumer tax increase. what other tax increases do you support? mostly just the ones that affect lower income people?
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Poor people are running out to buy washing machines are they? Maybe if we get China to engage in fair and honest trade practices, these poor people that you pretend to care about might actually have jobs building those washing machines here. But I get that is i easier for liberals to just hate Trump and say dumb things.
 
Fletch said:
Poor people are running out to buy washing machines are they? Maybe if we get China to engage in fair and honest trade practices, these poor people that you pretend to care about might actually have jobs building those washing machines here. But I get that is i easier for liberals to just hate Trump and say dumb things.
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it is understood that you support the tax increase. man, that must generate some cognitive dissonance.
 
Helix said:
it is understood that you support the tax increase. man, that must generate some cognitive dissonance.
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Tariffs have been a source of government funding since this countrys founding. In fact, how do you think this our government was funded for the first 150 years. Again, the goal is the ultimate elimination of tariffs and a fair and honest trading partner in China. Only a fool could oppose that, and here you are.
 
Fletch said:
Tariffs have been a source of government funding since this countrys founding. In fact, how do you think this our government was funded for the first 150 years. Again, the goal is the ultimate elimination of tariffs and a fair and honest trading partner in China. Only a fool could oppose that, and here you are.
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enjoy paying your extra taxes. man, i'm glad that i'm not a right winger anymore. i couldn't carry water for Bush. luckily, i woke up well before the orange fool.
 
Helix said:
enjoy paying your extra taxes. man, i'm glad that i'm not a right winger anymore. i couldn't carry water for Bush. luckily, i woke up well before the orange fool.
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Im not 'carrying water' for Trump. I am supporting confronting China on its unfair trade practices that hurt this country--which is actually a far easier task than is trying to penetrate the skulls of the Trump obsessed.
 
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