Sun. May 19th, 2024

Having Trouble Sleeping? Can You Afford a New Mattress?

Tyler Mitchell By Tyler Mitchell May18,2024 #finance

Protectionists want 745% tariffs on mattresses. Prepare to pay much more despite having the highest prices in the world already.

Data from the BLS, chart by Mish

Protectionists Go to the Mattresses

The Wall Street Journal reports Protectionists Go to the Mattresses

Protectionists in Washington and their union friends never rest. Their latest demand? Tariffs as high as 745% on imported mattresses. Getting a good night’s sleep is hard enough. Now prepare to pay more for one.

Ten domestic mattress manufacturers along with the Teamsters and United Steelworkers last summer asked the Biden Administration to impose antidumping duties on imports from a dozen countries including Italy, Poland, Spain and Taiwan. They claim these countries are selling mattresses in the U.S. at below their “normal value”—in other words, undercutting them on price.

Their Senate bedfellows Sherrod Brown, J.D. Vance and Eric Schmidt this week wrote to the Commerce Department and International Trade Commission that “illegally dumped and subsidized mattress imports continue to harm domestic manufacturers, making it difficult for these companies to succeed and putting American jobs at risk.”

Commerce in May 2021 imposed steep tariffs on imports from Turkey (20.03%), Thailand (37.48%), Malaysia (42.92%), Cambodia (52.41%), Serbia (112.11%) and Vietnam (668.38%). Mattress prices subsequently surged. A TikTok video recently went viral of a mattress shopper kvetching that prices had increased by 40% in a little over two years.

Yet domestic manufacturers want the Administration to extend tariffs to more countries. Commerce in February proposed antidumping duties on a dozen countries including Mexico (41.29%), Bosnia and Herzegovina (217.38%), Italy (257.06%), Poland (330.71%), Philippines (538.23%), Taiwan (624.50%), and Slovenia (744.81%).

Tik-Tok Mattress Prices

Here is a link to the Tik-Tok video mentioned by the Journal.

“Now that same mattress is $249, it’s $70 more or 40% more than it was in November 2021,” she explained. “This is just another example of why it is so expensive to be an adult and 2024.”

The BLS did not have an index just for mattresses, so my lead chart contains the closest indexes.

Annual Inflation Rate Last 8 Presidents

Voters seem angry about inflation despite economists telling us how great things are. A few pictures explain.

For discussion, please see What’s the Inflation Rate Under Biden vs 7 Previous Presidents?

Young Voters Bail on Biden

On March 7, I commented Polls Show Biden is Losing Black, Hispanic, and Young Voters to Trump

Q: Why is Biden losing black voters and young voters?

A:Those are the groups most likely to rent. In general, those are the groups most impacted by inflation whether you count home prices or not.

Biden Wants EVs so Badly That He Will Quadruple Tariffs on Them

Yesterday, I noted Biden Wants EVs so Badly That He Will Quadruple Tariffs on Them

Today we see requests for 745% tariffs on mattresses. Bear in mind there are only 12,000 mattress-making jobs in the US. To save those jobs, expect the price of mattresses to quadruple.

Can’t Sleep?

Please consider the possibility that it’s nightmares over Bidenomics rather than your mattress.

Tyler Mitchell

By Tyler Mitchell

Tyler is a renowned journalist with years of experience covering a wide range of topics including politics, entertainment, and technology. His insightful analysis and compelling storytelling have made him a trusted source for breaking news and expert commentary.

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One thought on “Having Trouble Sleeping? Can You Afford a New Mattress?”
  1. As a consumer, it’s frustrating to see protectionists pushing for such drastic tariffs on mattresses. With prices already high, the prospect of paying even more for a good night’s sleep is disheartening. Let’s hope for a fair solution that benefits both domestic manufacturers and consumers alike.

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