Americans can expect to soon see higher prices on everyday items like shampoo, suitcases and salmon.
Prices on many goods imported from China, including vacuum cleaners, are likely to rise after President Trump enacted new tariffs on $200 billion worth of Chinese products. By Abha Bhattarai Abha Bhattarai Reporter covering the retail industry Email Bio Follow May 14 at 4:27 PM The trade war with China is heading straight for Americans’ wallets.
In all, American families will pay an extra $767 a year on everyday items like suitcases, cribs and clothing following Friday’s tariffs, according to a report by the Trade Partnership. If Trump makes good on his threat to tax all remaining Chinese imports, that figure could go up to about $2,389 a year for the average household. It could also lead to 2.2 million job losses and a 1 percent dip in GDP, the report said.
Everyday essentials, including toilet paper, tissues and deodorant, are likely to go up in price, as the latest tariffs make their way down to American consumers. The Trump administration’s 194-page list of affected products also includes makeup, bath salts and petroleum jelly . “The categories that are covered includes thousands of products Americans buy every day, from phone chargers and cling wrap to toilet paper, toothbrushes and dog leashes," said Hun Quach, vice president of international trade at the Retail Industry Leaders Association, an industry lobbying group. “There is little to nothing retailers can do to mitigate this 25 percent increase.”3.
“We just notified customers that we will be unable to absorb this combination of tariffs,” Charlie George, who handles the company’s finances. “In dollars and cents, that means a $10 dog sweater today is going to end up selling for $12.”It’s no secret that washing machines have become more expensive in recent months -- Americans spent an extra $1.5 billion annually on washers and dryers since Trump’s 2018 tariffs took hold, according to a recent study.
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