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Jeremie Cohen-Setton @cohensetton
, 5 tweets, 4 min read Read on Twitter
This morning @BLS_gov published #CPI for June. Of particular interest is the data on washing machines as @realDonaldTrump introduced a 20% tariff on them in Jan. Since then, I find that their price is 16% higher than would otherwise have been expected without the tariff. @PIIE
The biggest month to month price increases were in April (+9.6%), May (+7.4%), and January (+3.4%). The price increase for June is +1.8%.
The empirical model predicts the change in the price of washing machine based on its own lags and on current and lag values of inflation. Using current and lag values of retail sales as predictors do not change the order of magnitude.
Here are the exact terms of the a safeguard tariff-rate quota on washers… @ChadBown, how would you turn this into a tariff rate equivalent?
@ChadBown @SoumayaKeynes @jung_euijin @D_A_Irwin @CarolineFreund was interested in comparing actual numbers with what US ITC expected but what I found in their report doesn't show the numbers. Am I missing something?…
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