Appliance Purchase

The recently announcement on a new tariff is likely to have an impact on appliance pricing throughout the industry. So, here we will explore this tariff in a little more detail to explain why it may affect your new appliance purchase. The Tariffs Whether you agree with the principle of the latest tariffs or not, the reality is that it is likely to have some impact on your new purchases. The tariff will affect any goods that are made using aluminum or steel. The 10% tariff on aluminum and 25% tariff on steel is effectively an import tax on all countries except Mexico and Canada, although very recently Mexico and Canada were also added back into the mix. While only aluminum and steel sourced from foreign countries may be likely to be affected, many industry experts believe that the whole industry will rise with the new tide. The new tariff provides Canadian, Mexican and domestic forges an opportunity to increase their own margins, as their competition will be implementing a significant price increase. Since appliances contain a substantial amount of these materials, we’re likely to see repercussions in the industry. The Market Impact In January of 2018, another tariff went into effect on large home style washing machines. This caused some foreign manufacturers including Samsung and LG to announce establishing manufacturing facilities in the United States. Unfortunately, the latest aluminum and steel tariffs may bring foreign manufacturing back into favor. In reality, the new aluminum and steel tariffs do not