In my March editorial, I discussed the impact of steel and aluminum tariffs on assemblers of steel and aluminum products. However, another constituency has also been affected by tariffs: U.S. consumers.
That was the conclusion of a new study published in April by economists at the University of Chicago and the Federal Reserve. The researchers found that, after tariffs were imposed on all washers imported to the U.S., prices increased by 12 percent in the first half of 2018 compared to a control group of other appliances. In addition, prices for dryers also rose by 12 percent, even though dryers were not subject to a tariff.