-Source-Market Insider- The Trump administration on Monday enacted a 10 duty on another $200 billion worth of Chinese products. That is in addition to $50 billion worth of import taxes already enacted. Economists say washing machine prices which have risen sharply under tariffs this year serve as a case study for the latest round of trade barriers. As the trade war between Washington and Beijing escalates price tags on washing machines may offer a glimpse of whats ahead for American consumers. Another round of tariffs on Chinese imports takes effect Monday bringing the total value of affected products to $250 billion roughly half of what the US bought from China in 2017. And economists say with an increasing number of consumer items subject to import taxes Americans should brace for new levels of sticker shock by the end of the year. There are some lessons to be learned from the tariffs imposed earlier this year with laundry equipment AKA washing machines serving as a case study Jeffries economists Ward McCarthy and Thomas Simons wrote in a recent research note.
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