Question

How are consumer prices affected in the United States when the U.S. imposes a tariff on...

How are consumer prices affected in the United States when the U.S. imposes a tariff on imported washing machines from Korea? Would American made washing machines be affected differently than Korean made washing machines?

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Answer #1

When Unites States imposes a tariff on imported washing machines from Korea, then its increase the consumer price in the United States . The impose tariff on washing machines generally increase the price of the Korean Machine in United States , so that generally costumer has to pay more to buy those Korean Machines . COnsumer suprlus also decreased because they have to pay more than what they were paying before the tariff.

Yes, American made washing machines would be affected, because when the Korean machines are become costlier or price increased, then the consumer demand for more of American made washing because thier pric is significantly low, and hence which will increase the manufacturing process and thus increase the American made washing maching output increased because of the high in demand .

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