If you’re in the market for a new washing machine, this may be the best time to buy. That’s because new tariffs on washing machines are expected to make some brands more expensive.
The Trump Administration on Monday approved tariffs of 20% on the first 1.2 million imported washers and 50% on them in the following two years in harmony with his “America First” campaign promise. He also imposed taxes on solar panels, approving an immediate tariff of 30%, with it gradually declining until it is phased out in four years, according to a government news release.
The washer tariffs are expected to raise prices on American sales of LG Electronics and Samsung Electronics, both based in South Korea. With about $1 billion in annual sales combined, the two brands hold a quarter of the U.S. washing machine market, behind General Electric and Whirlpool, according to Reuters.
Tips for shopping for a washer or dryer
If you’re looking to move quickly on a washing machine and lock in some affordable prices, what should you look for? As we’ve written previously, front-loading models made by LG are tops for consumers, followed by Samsung, Amana, Kenmore and Maytag.
Size matters: Because the two main washer styles are either front-loading machines or top loaders, you’re going to have to decide what you have the space for. If your washer is going in your basement, because of space reasons you may need to check on the machine’s height dimensions, which vary widely.
Save money on water: You can conserve water by choosing a front loader, which typically gobbles around 22 gallons per cycle, about half of what traditional top loaders do, according to Houselogic.com. This could lead to significant savings on your water bill over time.
Price it right: Top-loading washers are typically cheaper, priced around $300 to $600 for a decent model. If you want a front loader, especially with the bells and whistles, you could fork over $1,300 or more. Bottom line: You will gain a really cool washer with some added efficiencies, but it’s going to cost you.