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Archive for January 24, 2018

GE Washers Getting A Trump Bump

The Trump administration announced higher tarrifs on washing machine imports a few days ago. Companies like Samsung & LG will be hit immediately but soon they will both be making product in the US anyway.  The biggest impact, though, could be with Haier (remember? the Chinese company that bought GE Appliances) causing them to do… nothing new.

Haier will be encouraged to keep GE production in the US and maintain had running when they first took over.  In fact, it’s been business as usual since the Haier purchase in June of 2016.  And now with their immediate price leverage, Haier could see washer sales spike by doing… nothing new.

Ultimately high tarrifs on imports cause all prices to raise (or stabilize) but this is the price of keeping jobs in America.