The Trump administration's latest round of tariffs on Chinese imports took effect early Sunday, potentially raising prices Americans pay for some clothes, shoes, sporting goods and other consumer goods.
The Trump administration's latest round of tariffs on Chinese imports took effect early Sunday, potentially raising prices Americans pay for some clothes, shoes, sporting goods and other consumer goods in advance of the holiday shopping season.
As a result of Trump's higher tariffs, many U.S. companies have warned that they will be forced to pass on to their customers the higher prices they will pay on Chinese imports. Some businesses, though, may decide in the end to absorb the higher costs rather than raise prices for their customers. The Trump administration has been locked in a trade war with China for more than a year, spurred by its assertion that China steals U.S. trade secrets and unfairly subsidizes its own companies in its drive to overtake the United States in such high-tech industries as artificial intelligence and electric cars.
A study by J.P. Morgan found that Trump's tariffs will cost the average U.S. household $1,000 a year. That study was done before Trump raised the Sept. 1 and Dec. 15 tariffs to 15% from 10%. The economy is widely expected to slow further in the months ahead as income growth slows, businesses delay expansions and higher prices from tariffs depress consumer spending. Companies have already reduced investment spending, and exports have dropped against a backdrop of slower global growth.
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Trump says tariffs on Chinese goods are still set to go into effect on SundayPresident Donald Trump on Friday said that tariffs are still set to go into effect Sunday despite facing backlash from a number of companies.
Leer más »
15 Skin Care Products for Keeping That Summer Glow All YearThe end of summer usually signals a return of dry, dull skin, but with these 15 miracle products, your face and body can glow year-round.
Leer más »
15-year-old buys his mom a car using money from summer jobA 15-year-old boy used money from his summer job to purchase a car for his family.
Leer más »
15 Major Advances in Cancer Treatment in the Last Two DecadesCancer is scary, but the good news is we've made a ton of advancements in cancer treatments in recent decades, leading to better treatment options.
Leer más »
15 Road-Trip Stops to See the Best Autumn ColorsRoad trips are such an inexpensive and fun trip for the whole family — and there's no better time than the fall when you get to watch the leaves turn color!
Leer más »