[Chicks]

Trump’s Washing Machine Tariffs Stung Consumers While Lifting Corporate Profits
New research shows how a move meant to aid domestic manufacturers instead padded profits and raised prices on a wide variety of laundry items.

https://www.nytimes.com/2019/04/21/b...-machines.html

Research to be released on Monday by the economists Aaron Flaaen, of the Fed, and Ali Hortacsu and Felix Tintelnot, of Chicago, estimates that consumers bore between 125 percent and 225 percent of the costs of the washing machine tariffs. The authors calculate that the tariffs brought in $82 million to the United States Treasury, while raising consumer prices by $1.5 billion.

And while the tariffs did encourage foreign companies to shift more of their manufacturing to the United States and created about 1,800 new jobs, the researchers conclude that those came at a steep cost: about $817,000 per job.

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