[WASHINGTON] Higher US tariffs affecting several home appliances that contain steel took effect on Monday, according to a recent government notice, in a move that could add to the costs of consumer goods.
US President Donald Trump this month moved to double levies on steel and aluminum imports to 50 per cent and since then, the Department of Commerce added eight “steel derivative products” that will also be hit by the duties.
These include refrigerators, dryers, washing machines, dishwashers, cooking stoves and ovens, as well as food waste disposals, said a notice dated mid-June.
The tariff imposed will be assessed based on the value of steel content in each product, the notice added. This addition took effect on Monday.
Since returning to the presidency in January, Trump has imposed a sweeping 10 per cent tariff on imports from most US trading partners.
He has slapped higher levies on imports of steel, aluminum and automobiles as well.
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Economists warn that Trump’s duties could fuel inflation and bog down economic growth, although they have yet to spark widespread inflation so far in the world’s biggest economy.
This is partly due to the fact that businesses rushed to stock up on inventory ahead of Trump’s tariff hikes, analysts said.
The president has also backed off some of his most punishing salvos to allow room for trade negotiations.
For now, dozens of economies are rushing to strike deals with the Trump administration ahead of an early July deadline where they face steeper tariffs.
So far, only Britain has reached a deal on trade since Trump’s flurry of global tariffs, while Washington and Beijing also agreed to de-escalate high duties on each other’s products.
The Trump administration published a document on Monday on the Federal Register implementing the UK deal.
This includes establishing an annual quota of 100,000 UK automobiles, where these vehicles will be subject to a 10 per cent tariff rate instead of 27.5 per cent.
The quota, adjusted for calendar year 2025, is set to take effect in a week, the notice said.
Auto parts from the UK will also be subject to a lower tariff, while similar quotas for steel and aluminum – and related products – will be established at a later time. AFP
