
Trump Steel Tariffs Expanded to Hit Home Appliances
The department said in a notice that levies would take effect on so-called steel derivative products on June 23 and will be set at 50 percent.
While many products have become subject to higher import taxes since Mr. Trump began implementing his aggressive trade policy this year, Thursday's announcement marked one of the first times that everyday consumer goods were specifically targeted. The result will likely mean higher costs for American households.
The new tariffs will be assessed based on the level of steel content in each import, the government said.
Thursday's move came one week after the Trump administration doubled tariffs on steel and aluminum imports to 50 percent. They follow wave after wave of similar moves that have targeted cars, auto parts and a host of other goods from many of America's trading partners. The government said that the action was necessary to address 'trade practices that undermine national security.'
Note: Goods from Canada and Mexico that fall under the U.S.M.C.A. trade pact — the agreement that replaced NAFTA — are not subject to tariffs that took effect in March targeting those countries.
The higher metal levies have already rankled close allies that sell to the United States, including Canada, Mexico and Europe. They have also sent alarms to automakers, plane manufacturers, home builders, oil drillers and other companies that rely on buying metals.
Despite Mr. Trump's tariffs, measures of inflation have so far remained muted. Price increases were relatively stable last month, government data showed on Wednesday, and the costs of appliances in particular have increased more slowly than overall inflation did last month.
Economists caution, however, that the growing list of tariffs could begin to push up prices more noticeably later this year.
Mr. Trump's economic advisers have tried to downplay the economic toll their trade actions take on American consumers.
At a Senate hearing on Thursday, Treasury Secretary Scott Bessent noted that many companies are opting against passing the costs of tariffs onto their consumers and said that inflation remains under control.
'Inflation in the U.S. is at its slowest pace since 2021 on decelerating cost increases for shelter, food, and energy,' Mr. Bessent said. 'After four years of price increases diminishing the U.S. standard of living, inflation is showing substantial improvement due to the administration's policies.'
Colby Smith contributed reporting.
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