US President Donald Trump has imposed fresh tariffs on Canada, China, and Mexico. Experts say a trade war has begun and prices are going to shoot up.
Table of Contents A price hike is headed for shoppers in the US, and it could send shockwaves across industries, ranging from cheap gadgets and affordable fashion to electric vehicles. President Donald Trump , invoking the International Emergency Economic Powers Act and the National Emergencies Act , has imposed a fresh round of sweeping tariffs on Canada, Mexico, and China.
President Trump is implementing a 10 percent tariff on China until we secure the full cooperation of the Chinese government in the fight against fentanyl. China plays the central role in the fentanyl crisis that is destroying American lives.— The White House February 1, 2025 Exemptions, no more But it’s not just the tariffs that could spell trouble for US shoppers, but also the retaliatory taxes. As per experts, who cited historical precedent, most companies would pass on the cost of increased duties to customers.
The low-cost benefit is gone Earlier, the value was $200, but in 2016, Congress increased the de minimis threshold to $800. The de minimis exemption’s removal is going to hurt shoppers, especially folks buying goods from popular e-commerce platforms such as Shein, Temu, JD.com, and Alibaba.
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