US Trade Representative Robert Lighthizer has confirmed the tariff hike from 10% to 25% on $200 billion worth of Chinese imports:
This round of tariff increases is set to affect products that consumers purchase directly.
One product that previously faced similarly high tariffs was washing machines, which were slapped with a 20% duty in January 2018. The tariff ended up costing US consumers $1.5 billion over a year as appliance makers increased costs in response, according to a study by researchers at the Federal Reserve and University of Chicago cited by The WSJ.
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