US Trade Policy Drives Washing Machine Prices Up by 12%
The study looked at how import restrictions on washing machines affected their prices in the US. After tariffs were imposed in 2018, washer prices went up by about 12%, along with dryer prices. The tariffs led to higher prices for domestic brands too. When tariffs were placed on China in 2016, production moved to other countries, causing minor price changes. Surprisingly, tariffs on Korea in 2012 led to lower washer prices in the US because production moved to China. The study found that different factors like production relocation and price changes of related products influenced how tariffs affected consumer prices.