May 14, 2019
China Tariffs Will Hit Consumers Hard
For many Americans, President Donald Trump’s trade war may soon get very real.
His administration is preparing to extend 25% tariffs to practically all Chinese imports not already hit with duties, including toys, sneakers, shirts, alarm clocks, toasters and coffeemakers. That’s roughly $300 billion worth of products on top of the $250 billion targeted earlier.
“The administration’s decision to announce a tax on every product coming from China puts America’s entire economy at risk,” the Retail Industry Leaders Association said in a statement. “Americans’ entire shopping cart will get more expensive.”
