TVs to Shoes: This Time Consumers Face Pain of Trump Tariffs
Just in time for Christmas shopping season!
WASHINGTON (AP) — President Donald Trump’s trade war with China, until now mainly an abstraction for American consumers, is about to hit home.
Beginning Sunday, the U.S. government will begin collecting 15% tariffs on $112 billion in Chinese imports — items ranging from smartwatches and TVs to shoes, diapers, sporting goods and meat and dairy products. For the first time since Trump launched his trade war, American households face price increases because many U.S. companies say they’ll be forced to pass on to customers the higher prices they’ll pay on Chinese imports.
For more than a year, the world’s two largest economies have been locked in a high-stakes duel marked by Trump’s escalating import taxes on Chinese goods and Beijing’s retaliatory tariffs.