New tariffs could increase costs for home appliances
Home appliances are among the categories likely to be impacted by the new round of tariffs on products imported from China.
That is according to the Association of Home Appliance Manufacturers (AHAM), which warned that the the Trump administration's September 18 announcement that it will impose tariffs on another $200 billion of products imported from China will have a direct impact on home appliance manufacturers. Increasing manufacturers' costs is likely, in many cases, to increase prices for consumers.
The final tariff list includes dozens of components and parts necessary in the manufacture of most major and small appliances and vacuum cleaners as well as numerous finished products, said the AHAM. These include: refrigerator- freezers and their parts; room and portable air conditioners; dehumidifiers; ventilation hoods and their parts; microwave oven parts; wine chillers; hair clippers and their parts; shaver parts; countertop ovens; portable electric heaters; irons; and vacuum cleaners, floor polishers, and carpet sweepers and their parts.
The latest round of tariffs will take effect September 24 at a rate of 10% and will increase on January 1, 2019 to 25%. China announced retaliatory tariffs and, thus, it is likely that the U.S. will propose a fourth list of tariffs which could include even more home appliances
Higher prices for American consumers is the likely result of increased costs to import home appliances and the parts and materials needed to make and service them in America, according to AHAM. American manufacturing jobs could also be lost, the association warned.
"We support the administration's goal of addressing China's policies and practices related to intellectual property and innovation, but we continue to believe that these tariffs will not effectively do that and will instead increase consumer costs and divert company resources away from innovating and bringing new features to their customers," said Jennifer Cleary, AHAM's VP of regulatory affairs.
That is according to the Association of Home Appliance Manufacturers (AHAM), which warned that the the Trump administration's September 18 announcement that it will impose tariffs on another $200 billion of products imported from China will have a direct impact on home appliance manufacturers. Increasing manufacturers' costs is likely, in many cases, to increase prices for consumers.
The final tariff list includes dozens of components and parts necessary in the manufacture of most major and small appliances and vacuum cleaners as well as numerous finished products, said the AHAM. These include: refrigerator- freezers and their parts; room and portable air conditioners; dehumidifiers; ventilation hoods and their parts; microwave oven parts; wine chillers; hair clippers and their parts; shaver parts; countertop ovens; portable electric heaters; irons; and vacuum cleaners, floor polishers, and carpet sweepers and their parts.
The latest round of tariffs will take effect September 24 at a rate of 10% and will increase on January 1, 2019 to 25%. China announced retaliatory tariffs and, thus, it is likely that the U.S. will propose a fourth list of tariffs which could include even more home appliances
Higher prices for American consumers is the likely result of increased costs to import home appliances and the parts and materials needed to make and service them in America, according to AHAM. American manufacturing jobs could also be lost, the association warned.
"We support the administration's goal of addressing China's policies and practices related to intellectual property and innovation, but we continue to believe that these tariffs will not effectively do that and will instead increase consumer costs and divert company resources away from innovating and bringing new features to their customers," said Jennifer Cleary, AHAM's VP of regulatory affairs.