In April, the price of washing machines increased by 9 percent. The next month they increased by 6 percent. Both are the largest monthly price increases since the Bureau of Labor Statistics began collecting such data in 1977.
As margins fall, so do the number of major solar installation projects. The solar tariff has already cost 8,000 construction jobs in projects, according to the Solar Energy Industries Association, which predicts those job losses could reach 23,000.
As in solar, the impact of the steel and aluminum tariffs divides companies and their workers into two camps: those who make the metals and gain tariff protection, and those who must buy the metals and pay higher prices.
Higher steel and aluminum prices also could ripple across the economy, in higher costs for commercial construction, the building of roads and bridges, as well as for a wide variety of consumer products. Add to those the estimated impact of retaliation from U.S. trading partners, and the overall cost to the country’s economy the steel and aluminum tariffs will be $37 billion, according to the Trade Partnership.
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