U.S. 50% Steel Tariffs Hit Appliances June 23

The Trump administration has announced that, beginning June 23, it will extend 50% steel tariffs to a wide range of imported household appliances, including refrigerators, washing machines, dishwashers, and stoves. The tariffs, calculated based on the steel content in each product, aim to protect American jobs and domestic manufacturers. Trade experts warn the move may raise production costs for manufacturers and prices for American consumers, while also risking retaliatory actions from major trading partners such as Canada, Mexico, and the EU. The policy, criticized as protectionist, is expected to affect industries reliant on steel and aluminum and may contribute to inflation. The tariffs come amid global trade tensions, with other economies considering reprisals in response to U.S. measures. This marks a significant escalation by directly targeting everyday consumer goods.