Read the Beforeitsnews.com story here. Advertise at Before It's News here.
Profile image
By Mac (Reporter)
Contributor profile | More stories
Story Views
Now:
Last hour:
Last 24 hours:
Total:

These Three Items Will Be Hit The Hardest Thanks To Trump’s Tariffs

% of readers think this story is Fact. Add your two cents.


The Trump administration’s insistence on a trade war will affect three items the most.  Americans will be footing the bill for president Donald Trump’s trade war and tariffs, and vacuums, tires, and computer parts will be the items hit the hardest.

By now, hopefully, Americans have put two and two together and figured out that it isn’t the Chinese government that will pay for Trump’s tariffs, but the Chinese consumer.  Much like the American government will not pay for China’s tariffs, it will be the American consumer.  Those costs are passed on directly to the public in the form of higher cost of goods.  And if you’re looking for a new vacuum or tires, or maybe you’d like to upgrade your computer, expect much higher prices immediately.

President Donald Trump announced a new tariff on $200 billion worth of Chinese goods on Monday. The tariffs, which go into effect September 24 (today), will hit a wide range of goods, from furniture to industrial chemicals and Americans already living paycheck to paycheck will definitely feel the pressure in their wallets. It’s about to get a lot harder to make ends meet thanks to the government.

Economists expect that the items hit by the 10% tariff will cause an increase in price, making those goods more expensive for United States consumers and businesses. A total of 5,745 items will see their prices jump, but some goods will go up sharply while others will only rise a small amount.  Business Insider analyzed data from the US Trade Representative’s tariff list and the US Census Bureau’s database, and the Trade News Centre broke down how much of each good was exported to the US from China in 2017 to determine the most important items that will get hit.

There were 14 items on the tariff list that topped $1.5 billion in import value last year. The goods spanned several industries, including auto parts, circuit boards, and chairs. But tires, an already expensive necessity for most Americans (who already put it off because tires often cost more than a month’s worth of rent), will likely leave the biggest dent.

Economists are also warning that the increase in inflation from the new trade war attack “will be meaningful” and Americans will feel this financially immediately.  The other horrible consequence of Trump’s trade war is a loss of jobs. As businesses face higher costs for input goods, companies in the US are being forced by the government to either cut back in other areas (such as laying off workers) or pass along the price increase to consumers.  Neither of those are good options for an economy on edge and a nation $21 trillion in debt.

This article has been contributed by SHTF Plan. Visit www.SHTFplan.com for alternative news, commentary and preparedness info.


Source: http://www.shtfplan.com/headline-news/these-three-items-will-be-hit-the-hardest-thanks-to-trumps-tariffs_09242018


Before It’s News® is a community of individuals who report on what’s going on around them, from all around the world.

Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.

"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.

Please Help Support BeforeitsNews by trying our Natural Health Products below!


Order by Phone at 888-809-8385 or online at https://mitocopper.com M - F 9am to 5pm EST

Order by Phone at 866-388-7003 or online at https://www.herbanomic.com M - F 9am to 5pm EST

Order by Phone at 866-388-7003 or online at https://www.herbanomics.com M - F 9am to 5pm EST


Humic & Fulvic Trace Minerals Complex - Nature's most important supplement! Vivid Dreams again!

HNEX HydroNano EXtracellular Water - Improve immune system health and reduce inflammation.

Ultimate Clinical Potency Curcumin - Natural pain relief, reduce inflammation and so much more.

MitoCopper - Bioavailable Copper destroys pathogens and gives you more energy. (See Blood Video)

Oxy Powder - Natural Colon Cleanser!  Cleans out toxic buildup with oxygen!

Nascent Iodine - Promotes detoxification, mental focus and thyroid health.

Smart Meter Cover -  Reduces Smart Meter radiation by 96%! (See Video).

Report abuse

    Comments

    Your Comments
    Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

    MOST RECENT
    Load more ...

    SignUp

    Login

    Newsletter

    Email this story
    Email this story

    If you really want to ban this commenter, please write down the reason:

    If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.