'duh'....LG is raising washing machine prices due to new Trump tariff

[spanone]

LG Electronics told retailers on Wednesday that its laundry machines will get more expensive due to a tariff announced by the Trump administration earlier this week.

"As a result of the trade situation, we will be initiating pricing actions, which will be sent under separate cover shortly," LG executive Thomas Yoon said in a memo obtained by CNNMoney. The note was first reported by the Wall Street Journal.

An LG spokesman declined to comment as to how much more expensive the appliances will get, or on the timing of the price hike.

But consumers should be prepared for prices to go up by 15% to 20%, said Dinesh Kithany, asmart home and appliances analyst with IHS Markit. That could translate to washing machines that are $70 to $100 more expensive, he said.

http://money.cnn.com/2018/01/24/news/companies/lg-raising-prices-washing-machine-tariff/index.html?iid=hp-stack-dom

[Vinca]

1. Trump has some misguided notion that we are the only country that can impose tariffs.

Wait until American manufacturers encounter new tariffs when trying to export to other countries.

[KY_EnviroGuy]

3. Just like physics. For every action, there's a reaction.

My reaction is to try and not buy anything substantive during Dirty Donald's tenure.

The dollar is falling in value and he's imposing tariffs. That's a double whammy! Watch for Chinese-made goods in Walmart drift upward in price and their gross sales fall.

..................

[greatauntoftriplets]

2. Can China raise the tariffs on drumpf-branded products manufactured there?

[Fred Sanders]

5. Export taxes can be imposed on the exporting buyer. And sales tax. Look for it.

And everything gets even more expensive.

A trade war with China would be a disaster for inflation and jobs.

[DrunkInTheAfternoon]

4. I'm not real savvy about these things

But, isn't that the point? Then consumers would look toward American manufacturers.

Like I said though... Not my strong suit...

[onethatcares]

6. Aside from Whirlpool

there aren't a lot of large appliance manufacturers in the U.S. The masters that be had the union people dismantle them and put them on boats to cheap wage places that don't have many environmental regulations.

I don't think any company/corporation is going to dedicate a ton or two of money to purchase a million acre lot to build a refrigerator, washing machine, dryer company anymore.

At least that I know of. We are a service economy now. You know what it means when he's waiting for his heifer to be "serviced". Jeez, I just read about no desk offices and think it sucks big time glad I got but short time left in this world.

[Kaleva]

7. I'm very pleased with the Whirlpool washer and dryer I bought last year.

[Kilgore]

8. Nothing new

Government has been in the protection business forever. Here is an example from 1963.

https://en.m.wikipedia.org/wiki/Chicken_tax
The chicken tax is a 25% tariff on potato starch, dextrin, brandy, and light trucks imposed in 1963 by the United States under President Lyndon B. Johnson in response to tariffs placed by France and West Germany on importation of U.S. chicken.

[parkerMcDavis]

9. So...now we are in favor of cheap products imported from other countries?