But now, if you're the shoe company, you might instead decide to raise your general costs not by 5%, but how about 8% or 10%, pocketing the extra and blaming it on tariffs? And that's not just a hypothetical. During the first Trump term, Trump put tariffs on washing machines. So what happened next? Companies hiked the price of washing machines, okay? But the people who sold dryers hiked their prices, too, even though there were no new tariffs on dryers. (05:32–05:38)
CLAIM
Asserts that Trump imposed tariffs on washing machines during his first term.
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