Trump’s Washing Machine Tariffs Cost Consumers $800,000 Per Job Created

If the Dealmaker-in-Chief thinks it’s a good deal to force US consumers to pay $820,000 annually in higher costs to create a new $43,000-per-year factory job, then he might have to re-think his deal-making strategies. The costs to American consumers exceeds the value of each new job by a factor of 19-to-1.

Source: Trump’s Washing Machine Tariffs Cost Consumers $800,000 Per Job Created - Foundation for Economic Education

One of the reasons that tariffs are always a bad idea is that it costs more than it saves. Sure, a few jobs related to washing machines were saved but if each job saved has an economic cost of $820,000 then that just means jobs are ultimately lost elsewhere and probably more of them. Since consumers had to spend more money on that washing machine they needed that means they had less to spend elsewhere. Tariffs are a bad idea when a Democrat implements them and they are a bad idea when a Republican implements them.

---

_{Sponsored ( Powered by dclick )}

[DCLICK HTML Ad] - Earn Steem from your blog or website!

^{Hi Steemians. Today, I'd like to introduce you to th...}