Last Monday evening released a new list of about $300 billion in Chinese goods that President Trump has said he’s contemplating hitting with tariffs as high as 25%. And, last week, the Trump raised tariffs to 25% from 10% on over $200 billion worth of Chinese products. China then retaliated on Monday by raising tariffs on about $60 billion of U.S. goods.
This means that prices will be going up on affected products that include many of the top sellers on sites like Amazon.
These will partially include:
- Clothing & accessories (incl jewelry)
- shoes (including sneakers)
- Sporting Goods
- Fish & seafood
- electronic accessories (Cellphone Cases, earbuds, Bluetooth
- Some chemicals
- Bicycle helmets
- and more
Retail analysts expect that brick and mortar stores will be the hardest hit with online shopping affected minimally –although they will be affected also –just to a somewhat lesser extent. The reason is that online sellers have much lower overhead than traditional stores and can adjust prices more easily.
The tariffs hit as the US and China are engaging in continued trade talks, and negotiations taking place in both the US and China.