Yes, well, that should not surprise anybody as the Trump Tariffs are paid by the American companies doing the importing and are not included in import prices in any way.
I think of this tariff as the Walmart tariff as it will now affect the retail price of everything Walmart sells. Clothing and many consumer goods have been tariff-free until September 1st.More than a year into the U.S.-China trade war, American consumers are about to find themselves squarely in the crosshairs for the first time, with households estimated to face up to $1,000 in additional costs each year from tariffs, according to research from JPMorgan Chase.
Consumers, whose spending fuels about 70 percent of the U.S. economy, have been largely shielded from previous rounds of tariffs, which have left businesses reeling and upended global supply chains. But that’s about to change with the 10 percent levies on roughly $300 billion in Chinese imports, about a third of which will take effect Sept. 1. Those tariffs will primarily target consumer goods.
The tariff I am paying on industrial commodities is now at 30%.