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HOLD ON TO YOUR WALLET: Trump’s trade war with China is about to start hitting the goods you buy most

“The list, released Tuesday, could add 10% duties on consumer goods including TVs, leather handbags, buttons, and basic groceries” writes Bob Bryan for businessinsider.my. Trump’s tariffs on Chinese goods have so far mostly spared US consumers, focusing instead on industrial materials such as bulldozers or large factory equipment.President Donald Trump’s escalating trade war with China could very quickly get very real for millions of Americans.Deutsche Bank’s chief China economist, Zhiwei Zhang, said there were “many other trading partners that US can switch to” for a good portion of the items on Trump’s newest list, which could give consumers some relief.Analysts have exhibited some hope that price increases could be muted by simply shifting market share to imports from other countries.
 
Source: businessinsider.my



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