U.S. (CBS) — The U.S. Trade Representative got an earful from American companies this week. Over seven days of hearings before the USTR, hundreds of businesses from mobile phone makers to clothing retailers testified in Washington on the Trump administration’s latest proposal to add tariffs on $300 billion of Chinese imports that aren’t already subject to U.S. levies.
Contrary to what President Donald Trump has claimed, U.S. companies — not the exporting countries — pay tariffs on goods and services imported from China and elsewhere. While some firms can absorb the higher costs, most companies opt to push at least some of the new expenses to consumers. That means higher prices for Americans.
As the hearings end and Mr. Trump prepares to meet with China’s Xi Jinping at the G-20 meeting in Osaka, Japan, this Friday and Saturday, here’s a look at some unusual — but everyday — products that may cost consumers more if the U.S. and China can’t reach an agreement and Mr. Trump imposes the next round of tariffs.
Countertop cooker Instant Pot would rise in price by roughly $38 to $187 if the tariffs are imposed, according to a filing from Corelle Brands, which makes the electric multi-cooker. The product became wildly popular during Black Friday 2018 sales, according to Bloomberg. Correlle bought the manufacturer in March this year.
Corelle said there are “no other viable options” for shifting production to another country because of the specialized nature of the cooker and the low-tech patented manufacturing it requires, mastered by China. The cookers aren’t a threat to U.S. national security, said Correlle in its written testimony.
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