“A little more than a year after President Trump slapped a 20% tariff on imported washing machines, new research finds that American shoppers have been the ones to pay the price,” NBC News reports.
“A study conducted by two researchers at the University of Chicago and a Federal Reserve Board Governor found that washers cost an average of 12% more after the imposition of the tariffs, or roughly $86 to $92 more per appliance.”
Meanwhile, Bloomberg reports personal income for farmers “fell by the most in three years in the first quarter, as losses to U.S. agriculture mount from Trump’s trade wars.”
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