Whirlpool, according to a report in the Wall Street Journal, is prevailing upon the Trump administration to check into practices by foreign manufacturers importing appliances into the U.S.
To compensate for higher tariffs, these manufacturers are lowering prices, according to Whirlpool. They may even be taking a bath themselves profit-wise, but it looks like the U.S. is also taking a bath, tariff-wise.
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The article in today’s online edition quotes these statistics:
- Garbage disposals from China dropped from $21 in the first four months of the year to $9 in June and $8 in July
- Gas range imports from Thailand dropped half in price to $175
- Catch this one: Washing machines from South Korea sank from $838 to $73
Retail prices for these items have not shown a concomitant descent. Tariffs on these imports range from 13 Percent to 60 percent.
Whirlpool has reported these tariff deceits to U.S. Customs and Border Patrol (CBP) and to some within the administration, but has yet to file a formal complaint.
Rival GE Appliances says Whirlpool is just bitter due to its falling market value, but Whirlpool stands by its allegations, declaring: “These are very large and sophisticated companies that know how to declare their imports.”