These popular brands say Trump's tariffs will force them to raise prices
President Donald Trump's tariffs are leading to higher import costs for US companies, and it's American consumers who are likely to bear the burden.
While the White House has pointed to national security issues as justification for the tariffs, there's also a practical economic component to Trump's duties. The tariffs on foreign imports such as washing machines, steel, and aluminum are designed to make foreign goods more expensive and therefore US manufacturers more appealing.
Since these tariffs have been in place, several US companies including Coca-Cola and Winnebago have said they have been forced to raise prices on the consumer's side. Others are threatening to follow suit.
According to the Labor Department, the average cost of washing machines was up 17% in just the past three months, The Wall Street Journal reported.
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