Trump's latest tariffs are about to hit you where it really hurts

[Yo_Mama_Been_Loggin]

President Donald Trump's latest round of tariffs added a new dimension to the trade war with China: US consumers are going to get hit directly.

The previous round of tariffs imposed by the president on $50 billion worth of Chinese goods focused almost exclusively on industrial goods and intermediate parts on final goods that are then sold to consumers.

This led to an indirect hit to consumers. As businesses faced higher costs for input goods, the companies were forced to either cut back in other areas - such as laying off workers -- or pass along the price increase to consumers.

While the effect on consumers has trickled down previously, the latest round of tariffs on $200 billion worth of Chinese goods constitutes a direct hit.

Many of the 5,745 items on the newest tariff list are consumer goods or things that Americans buy every day: fruit juice, furniture, air conditioners, and more.

https://www.msn.com/en-us/money/markets/trumps-latest-tariffs-are-about-to-hit-you-where-it-really-hurts/ar-BBNzjkq?li=BBnbfcL

[eleny]

1. I wonder if the tariffs are a cash cow scheme

I can't recall how Tramp said they will be spent.

[Flaleftist]

2. I think it goes into the general fund, essentially making it a tax on consumers

that can help make up part of the deficit for the GOP tax scam.

[dalton99a]

3. Yep, we're paying for their new yachts and airplanes

[eleny]

5. Thanks!

[keithbvadu2]

4. Still no tariffs on Trump family products?

[roamer65]

6. It's very much like a VAT.

Expect an inflationary bump coming very soon. Probably in the neighborhood of 10 to 15 percent.

[roamer65]

7. Here's what you really are going to see long term.

Given the tariff schedules, retailers or companies in the US will make a decision as to whether or not they can sell or efficiently utilize the Chinese goods at the new tariffed prices. You will see less selection in stores, possibly empty shelves and what is imported will be cheapened junk. Chinese manufacturers will cut corners to get items through at a lower price.