The United States imposes a 50% tariff on various steel household appliances, with the price of washing machines estimated to increase by over $600 after the tariff.
Starting on the 23rd local time, the 50% tariff imposed by the United States on a variety of steel home appliances officially takes effect. According to a notice released by the U.S. Department of Commerce's Bureau of Industry and Security, this tariff adjustment will add eight categories of home appliances and related products as "steel-derived products," including dishwashers, washing machines, refrigerators, ovens, etc., all subject to a uniform 50% tariff. The amount of tax will be calculated based on the value of steel components in each type of product. However, if the products use steel materials smelted domestically in the United States, even if processed overseas, they can be exempted from additional tariffs. As early as Trump's first term as president, the U.S. government imposed tariffs on imported steel and aluminum products, resulting in increased costs for industries such as automobiles, machinery, and construction. The steel and aluminum tariffs imposed in 2018 not only failed to help revitalize downstream manufacturing in the United States but also led to the loss of about 75,000 jobs. According to estimates by the Federal Reserve and the University of Chicago, the additional tariffs eventually caused the price of a regular washing machine to rise by about $90, equivalent to approximately 647 Chinese yuan.
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