Golden Finance News: On June 12 local time, the US Department of Commerce announced that starting from June 23, it will impose additional tariffs on various steel household appliances such as dishwashers, washing machines, and refrigerators, which are defined as “steel derivatives”.
This tariff adjustment has set a 50% tax rate for most countries. This measure will undoubtedly have a significant impact on the import of related steel products. Industry analysts generally believe that the significant increase in import costs is highly likely to prompt consumer prices to rise accordingly. At present, stakeholders in the home appliance industry are closely monitoring this development and closely assessing the possible chain reactions it may bring to multiple aspects such as production, sales, and consumers’ purchasing intentions.
In fact, this is not the first time that the United States has made major adjustments to its tariff policy recently. On June 3 local time, the White House issued a statement. President Trump announced that the tariffs on imported steel, aluminum and their derivatives would be raised from the original 25% to 50%. This policy officially took effect at 00:01 a.m. Eastern Time on June 4. In the “Executive Order on Adjustment of Import Tariffs on Steel and Aluminum Products in the United States” issued by the White House, “national security” was listed as the main reason for the tariff adjustment.
Trump signed an executive order as early as February 10th, announcing a 25% tariff on all imported steel and aluminum to the United States. This measure was officially implemented on March 12th. According to data from the United States International Trade Commission, in 2024, the value of steel and aluminum products imported by the United States reached as high as 147.3 billion US dollars. The main sources of its imported steel include Canada, Mexico, Brazil and other countries, while the main sources of imported aluminum are Canada and others.
Previously, the United States’ move to impose tariffs on steel, aluminum and their derivatives has drawn strong criticism from industry professionals and scholars in many countries. They pointed out that this move would not only push up the prices of a series of goods in the United States, ranging from automobiles to canned food, imposing a heavy burden on American enterprises and consumers, but also intensify the uncertainty of the global economic and trade environment, casting a shadow over the prospects of world economic growth. The additional tariffs imposed on steel home appliances this time will undoubtedly further intensify the cost pressure on related industries in the United States. Its subsequent impact on the US market and the global home appliance industry chain is worth continuous attention.
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