Trump’s tariffs will cost average US family US$767 a year

Trump’s tariffs will cost average US family US$767 a year

President Trump has hiked tariffs on Chinese imports after trade talks broke down between the two countries, according to a report published by Reuters.

The rise, which will see levies on household goods, including shampoos and perfumes, grow from 10 percent to 25 percent, will make price rises ‘inevitable’ and could cost the average US family US$767 a year, according to a study from the Trade Partnership, per Reuters.

Forecasters are also predicting a loss of up to 200,000 jobs and that the duty increase will impact US growth to the tune of 0.3 percent.

2 Comments

  1. Short term pain will lead to long term gain. Global trading must be fair.

    Reply
  2. It will cost the same both ways now. With greater Losses to the Chinese market because of their larger consumer base volume. The Math will win out in the end. Dollars equal deals. I am not buying into the Job losses to the US panic. If it costs more or even equal to import from China. Industry will expand In the US to fill the vacuum, more jobs not less. Companies that were willing to absorbed Patent and Gray Market losses for cheap labor, will correct by Paying more elsewhere and receiving gains back in reduced Bootleg competition.

    Reply

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