Final Thoughts

The laws of unintended consequences concern me. President Trump’s Section 232 steel and aluminum tariffs, as well as Section 301 tariffs, are only beginning to have an impact on the consumer. It is only a matter of time before consumers have to react as they do not have unlimited cash flow to pay higher prices for products.

I will give you are real-life example that happened to me on Thursday of this past week. I had an issue with my oven, which has a culinary center. I was having problems with the face of the unit recognizing the touch-screen power button (remember when ovens had knobs that might fall off but little else could go wrong?). Since I am cooking the feast for Thanksgiving, I thought it might be a good idea to resolve the issue. The repairman told me I need to replace the face of the unit, which also contains the software and other computer related “stuff.” When checking the producing company’s website, the parts were listed as being “out of stock.” My belief is the parts were made in China and affected by one of the Section 301 issues and no replacement supply is available. I was able to jerry-rig a solution as there is no option (other than buying a brand-new oven, which is not an option in my house).