As trade tensions between the U.S. and China escalate, with both sides increasing tariffs on a widening selection of products, American consumers will see higher prices as soon as this summer.
“The supply chain will try to absorb as much of the blow as they can, then they will move those costs forward to consumers,” said David French, senior vice president of government relations at the National Retail Federation. In preparation, retailers are stocking up on merchandise. When tariffs were imposed on imported washing machines last year, U.S. manufacturers responded to reduced competition from imports by raising their prices and, as a result,“U.S. consumers paid 125 percent to 225 percent more,” French said, referring to a working paper co-authored by Ali Hortacsu and Felix Tintelnot of the University of Chicago and Federal Reserve Board economist Aaron Flaaen.
As of the latest tally, the new tariffs will mean higher prices on items such as luggage, mattresses, food and cleaning products. The increase is effective on goods shipped starting last Friday. “This round is much more consumer-focused,” Russ said. And once implemented, “households may start to see resulting price increases on these goods in early fall.”To get ahead of the next waves of tariffs, Russ recommends buying some items now, if possible — such as backpacks and other back-to-school supplies — rather than holding off until later in the year.
My mom & I bought a bunch of pencils, erasers, paper & folders when I first started school (pre school). I used them all the way up to college. I still have some left. 😊 I'm running low though! 😬 I might need to buy more in about 20 years. 🤔
Just another weak biased article by NBC.
Is realDonaldTrump setting out to wreck the global economy? Or is he just so ignorant? Never mind, I know the answer. How did the Wharton School ever give him a degree? Never mind again, I know that answer as well. Daddy's money.
BuyAmerican
Or not make the purchase and save all the money. The best way to save money is not spending it.
Why? You know something they don't, up on you and your agendas.. people do your Home Work LEARN
I am starting a movement to decrease abortion rates it’s called pullout
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