Maker of Instant Pot says its price may jump $38 due to Trump’s China tariffs [Los Angeles Times (CA)]
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Source: Los Angeles Times
Maker of Instant Pot says its price may jump $38 due to Trump’s China tariffs The pressure cooker that flew off shelves last Black Friday is getting pulled into the trade war. The price of the popular Instant Pot would increase nearly $38 to $187.44 if the latest proposed 25% tariff on Chinese imports goes into effect, parent company Corelle Brands LLC said in a letter to the U.S. trade representative. That means essentially the full cost of the tariff would be passed along. The company said the higher prices were “an unfair consequence” of the trade tensions because targeting electric multi-cookers “will in no way assist the [trade representative] in its policy goals against China.” Corelle, which makes Pyrex and other kitchen products, agreed to merge with Instant Pot’s owner, Instant Brands Inc., earlier this year. The company is joining the chorus of corporate voices that have come out against the tariffs on $300 billion of goods that could go into effect as early as next month. B
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