In the aftermath of steel and aluminum tariffs during Trump's first term, major appliances showed price increases of between 5% and 10% between June 2018 and April 2019, Miller added, citing a monthly government data release. Those price hikes far outpaced an overall inflation rate of around 2%.

President Donald Trump on Monday imposed 25% tariffs on all steel and aluminum imports to the United States. “This is a big deal," Trump said while signing the proclamations in the Oval Office. "The beginning of making America rich again."