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Nov 16, 2004 -- Tariffs on imports go down, but appliance prices go up

Several weeks ago, Clark was enraged when he heard about the massive fees the federal government was planning to charge on imports coming from China. Furniture from China is dominating the market because the quality and the price is so good. It’s got U.S. furniture makers all worked up because the competition is doing so much better than them. Well, now that the election is over, the news has changed. The tariffs have been reduced to a maximum of 16 percent and some items will have duties of only 8 percent. So, the increase in the mark-up will not be as high, and prices will remain very reasonable in general on furniture. On the other hand, China is soaking up so much of the world’s steel and raw material that appliance prices are headed up. Whirlpool is raising prices as much as 10 percent and Maytag has just announced it will increase prices as well. Refrigerators, washers, dryers, dishwashers and stoves are among the items headed up.

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