The new tariffs on Chinese goods are already impacting U.S. consumers, who are facing additional charges on their purchases. The tariffs, which went into effect on July 6, 2023, add an extra 10% to the price of all Chinese products.
U.S. consumers are already experiencing the consequences of President Donald Trump 's recent tariffs on goods manufactured in China. The Associated Press reports that shoppers are encountering an additional 10% tariff on all Chinese products, implemented a day after Trump agreed to postpone his threatened tariffs against Mexico and Canada.
Social media platforms are flooded with consumer complaints about receiving notifications from UPS and DHL, informing them of unexpected charges ranging from $20 to over $50. TikTok content creator McKenzie Taylor, residing in Washington, D.C., shared her ordeal, detailing a text message she received regarding a $30 surcharge on a package she ordered from an Australian boutique via DHL. Trump's executive order imposing tariffs on Chinese-made goods also revoked a customs exemption that previously permitted goods valued under $800 to enter the U.S. duty-free. However, the AP clarifies that this loophole remains operational for shipments originating from other countries. The precise extent of price increases resulting from these newly imposed tariffs remains uncertain. Analysts predict that shipments from China will now be subject to existing duties plus the additional 10% tariff enacted by Trump. 'The vast majority of these orders are valued less than $800, indicating that all or virtually all of them will be affected by this,' stated Youssef Squali, an analyst at Truist Financial
CHINA TARIFFS CONSUMERS DONALD TRUMP U.S. ECONOMY TRADE WAR
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Trump Imposes 10% Tariffs on Chinese Goods, Raising Prices for US ConsumersPresident Donald Trump signs executive orders imposing a 10% tariff on all imported goods from China, citing concerns over the manufacture and transport of illicit drugs. While the administration claims the tariffs will make America great, experts warn of price increases for a wide range of products, including electronics, footwear, toys, and games. The tariffs are expected to impact both businesses and consumers, with importers likely passing on a portion of the increased costs to shoppers.
Read more »
US Imposes Tariff on Chinese Goods, Impacting Consumers and E-commercePresident Trump's 10% tariff on Chinese goods aims to counter trade imbalances but will likely increase costs for American consumers. China retaliates with tariffs on US goods, while changes to the 'de minimis' loophole target cheap imports from sites like Shein and Temu.
Read more »
Consumers Feel Undervalued by Brands, Despite LoyaltyA new report from SAP Emarsys reveals that 83% of U.S. consumers feel undervalued by the brands they remain loyal to, highlighting a disconnect between brands and their customer base. The report emphasizes the need for retailers to move beyond traditional loyalty tactics and focus on creating personalized and meaningful experiences to foster lasting relationships.
Read more »
Ford Shifting Focus To Affordability As Consumers Feel SqueezedFord is set to ramp up production of lower-end Escapes, Explorers, and F-150s
Read more »
66 North’s CEO Helgi Óskarsson Says Brand’s Chinese Consumers Spend More Than AnyoneThe Iceland-based sustainable outerwear brand 66 North has opened an exhibition at Copenhagen Fashion Week for its 99th anniversary.
Read more »
Year of the Snake comes with a bite for Chinese consumers facing an economic slowdownLunar New Year festivals are taking place in China and cities across the world to mark the start of the Chinese New Year.
Read more »