Hey everyone, big news in global trade today! President Donald Trump has expanded the scope of his steel tariffs, and now everyday home appliances – from dishwashers and washing machines to refrigerators and ovens – will be hit with a 50% tariff rate.
Starting June 23, eight new product lines will be subject to this tariff, including:
- Combined refrigerator-freezers
- Small and large dryers
- Washing machines
- Dishwashers
- Chest and upright freezers
- Cooking stoves, ranges, and ovens
- Food waste disposals
- Welded wire racks
This follows earlier moves that raised tariffs first to 25% in March and then to 50%, all aimed at addressing "trade practices that undermine national security." The fee is calculated based on the steel content in each product, making the measure a bit more complex.
Across bustling cities in South Asia and Southeast Asia, where young professionals and tech enthusiasts are always on the move, even small changes in prices can impact lifestyle choices. Whether you're planning your next home upgrade or simply curious about global trade trends, this development is a reminder of how interconnected our everyday lives truly are. 😎
Reference(s):
Trump expands steel tariffs to home appliances, sets rate at 50%
cgtn.com
