Your Life Will Never Be the Same After These Tariffs
These tariffs are going to hurt. A lot. By my calculations, this round of tariffs may be 50 times as painful as the ones Donald Trump instituted in his first term. That means they are going to reshape your life in much more fundamental ways.
To illustrate how, let’s look at a prosaic example: your washing machine. In 2018, Mr. Trump’s relatively modest tariffs caused washing machine prices to rise by nearly $100. As a result, many families elected to stick with their aging machines longer than they otherwise would have. But that choice incurred a new set of costs: late-night thuds from unbalanced loads, wads of scrunched cloth still dripping wet after a cycle and higher energy and water bills.
