Donald Trump imposed import tariffs upon washing machines. The cost of this to consumers has been up to 225% of the possible benefit. That is, the net result is a great stonking loss for Americans. Not that this is a surprise, as this is the usual empirical result of all and any import tariffs. Consumers lose very much more than anyone else might potentially gain.
President Trump’s tariffs on imported washing machines cost U.S. consumers about $1.5 billion a year, according to new research.