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Appliance shoppers feel pinch from tariff

Credit: WCPO Cincinnati
Published on May 13, 2019 - Duration: 01:55s

Appliance shoppers feel pinch from tariff

The price of appliances have shot up in the recent trade war with China.

Consumer Reporter John Matarese says electronics and other items assembled in China may be next.

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Appliance shoppers feel pinch from tariff

THOSE TARIFFS ARE ALREADYIMPACTING US CONSUMERS....YOUMAY HAVE BEEN HIT WITH ATARIFF-RELATED PRICE HIKE IFYOU'VE BOUGHT A NEW WASHER ORDRYER THIS YEAR.BUT UNLESS THETOUGH TRADE TALK WITH CHINACOOLS DOWN SOON.... EXPERTSSAY WE WILL SOON BE PAYINGMORE FOR A LOT OF THINGS WEBUY.IT'S NOT EASY BEING IN THEAPPLIANCE BUSINESS THESE DAYS.DAYS."You know they are bothreally good dishwashers..."HERE AT LEE AND JACK'SAPPLIANCES -- IN BATAVIA --OWNER JEFF BOGGS HAS TOEXPLAIN PRICES THAT RECENTLYJUMPED 75 TO 100 DOLLARS ON WASHWASHERS."We have GE,Whirlpool,, Maytag, LG, thathave larger capacity tubs."JEFF SAYS THE INITIAL ROUND OFTARIFFS HIT LG AND SAMSUNG ......"They went up about 10percent, and availability wasalso an issue for a while."...BUT THEN THE PRICE HIKESSPREAD TO AMERICAN BRANDS LIKEWHIRLPOOL, GE, AND MAYTAG.MAYTAG."Biggest increase we'veever seen."seen."WHEN THE INITIAL TARIFFSTOOK EFFECT A LITTLE OVER AYEAR AGO, JEFF SAYS THE FIRSTTHING TO GO UP WERE WASHINGMACHINE.BUT HE SAYS NOW THISPAST JANUARY THEYVE ALSO SEENTARIFF RELATED PRICE HIKES ONEVERYTHING FROM WALL OVENS TOREFRIGERATORS."All the manufacturers went upJanuary 1st 7 to 10 percent,and that was across the board.Washers dryers everything."WHY?

ANALYSTS SAY MOSTAPPLIANCES TEND TO HAVE PARTSFROM CHINA.NOW, CNBC SAYSTHESE TARIFFS MAY SOON HIT:-FURNITURE- BICYCLES-HELMETSAND CAR SEATS--ELECTRONICSLIKE SMARTWATCHES AND TV'S ....AND OTHER ITEMS ASSEMBLED INCHINA.THE WHITE HOUSE'SECONOMIC ADVISOR LARRY KUDLOWSAYS BOTH SIDES WILL LIKELYSUFFER FROM THIS TRADE WAR.WHICH LEAVES SMALL APPLIANCESTORES LIKE LEE AND JACK'SFIGHTING TO KEEP THEIR PRICESTHE BEST AROUND.AROUND."I think most peoplewho come in here are confidentwe have good prices, but mostpeople know prices have goneup."THE LATEST HIKES ARE EXPECTEDTO TAKE PLACE JUNE FIRST....SOIF YOU NEED AN APPLIANCE...ORANOTHER BIG TICKET ITEM, YOUMAY WANT TO SHOP NOW.

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