Trump’s Christmas Tariffs To Raise Holiday Prices On Apparel, Shoes, and Hats
American consumers are more likely to feel the effects of President Donald Trump’s upcoming Chinese tariffs than those previously imposed, as apparel, shoes and hats make the list just in time for Christmas.
According to The Wall Street Journal, $33 billion worth of goods in those categories are among the Chinese goods subject to Trump’s 10 percent tariff that takes effect on September 1.
And as Axios noted, unlike the “telecommunications equipment, metal alloys and mechanical devices” Trump hit with tariffs in the past, goods like apparel and shoes will be more noticeable to the general public’s wallets.
The Journal estimated about 69 percent of consumer goods from China will be affected by the September tariffs, as opposed to just 29 percent up until that point.
Though Trump delayed taxing some Chinese goods until December 15, American consumers will certainly feel the pinch when it comes time to wrap up their holiday shopping.