August 31, 2019

Increased tariffs mean increased costs

Starting at 12:01 am Sunday, 15% tariffs on about $112 billion in Chinese goods will go into effect. The import tax will affect more than 3,200 categories of products, including all the ingredients for a perfect backyard BBQ: meat, mustard, and plastic plates.
President Trump has already slapped tariffs on $250 billion worth of Chinese products. But since many of those goods only get passed between manufacturers, you may not have felt the effects. When was the last time you went shopping for carbon electrodes?
This round has a boatload of consumer products—literally, canoe paddles are being taxed. Also: footwear, apparel, smartwatches, TVs, sporting goods, diapers, and a whole lot more. 
  • 29% of consumer goods Americans get from China are currently subject to tariffs. Tomorrow, that’ll spike to 69%, per the AP. 
  • Once increased tariffs on more Chinese goods go into effect on Dec. 15, almost all consumer goods we buy from China will be staring down tariffs. 
from Morning Brew