Quantcast
Connect with us

Trump’s tariffs will cost every US household about $800 — and these everyday items will all cost more

Published

on

Prices are about to jump for a lot of consumer goods, thanks to President Donald Trump’s trade war with China.

The president has added a 25-percent tariff on another $200 billion worth of Chinese imports, and China responded with 25-percent duties on another $60 billion in American goods — and that will hit U.S. consumers as soon as this summer, reported NBC News.

ADVERTISEMENT

Trump insists China will bear the brunt, but economic experts say he’s exactly wrong.

“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.

Retailers are stockpiling merchandise in hopes of riding out a trade war, but those supplies will eventually run out — and consumers will pay more.

Consumers are already paying up to 225 percent more for imported washing machines, thanks to tariffs imposed last year, and a report from Oxford Economics estimated that tariffs could cost every American household about $800.

Those costs will hit cleaning products, diapers, food, luggage and mattresses in about a month, and additional tariffs could raise costs on camping equipment, clothing, shoes and sporting goods.

ADVERTISEMENT

Consumer electronics — including computers, TVs and video game consoles — will also get more expensive. A new iPhone could cost about $160 more, according to analysts.

“If you were planning a large purchase six weeks from now, you may want to make that purchase today,” French said.


Report typos and corrections to: [email protected].
READ COMMENTS - JOIN THE DISCUSSION
Continue Reading

Breaking Banner

Donald Trump’s lurch toward fascism is backfiring spectacularly

Published

on

Welcome to another edition of What Fresh Hell?, Raw Story’s roundup of news items that might have become controversies under another regime, but got buried – or were at least under-appreciated – due to the daily firehose of political pratfalls, unhinged tweet storms and other sundry embarrassments coming out of the current White House.

During the 2016 campaign, as Donald Trump railed against "Mexican rapists" and other "criminal aliens," pollsters found that the share of Americans who said that immigrants worked hard and made a positive contribution to our society increased significantly, and noticed a similar decline in the share who said they take citizens' jobs and burden our social safety net. After Trump was elected and began pursuing his Muslim ban, the share of respondents who held a positive view of Islam also increased pretty dramatically. I'm not aware of any polling of the general public about transgender troops serving in the military before Trump decided to discharge them, but Gallup found that 71 percent of respondents opposed his position after he did.

Continue Reading

Breaking Banner

Judge blocking release of Jeffrey Epstein records has ties to officials linked to Epstein: report

Published

on

On Saturday, the Miami Herald reported that a judge who blocked the release of grand jury material in the Jeffrey Epstein child sex abuse case has ties to three officials with a vested interest in the outcome of the lawsuits surrounding the scandal.

"Krista Marx, the Palm Beach chief judge who also heads a panel that polices judicial conduct, has potential conflicts of interest involving three prominent players embroiled in the Epstein sex-trafficking saga: State Attorney Dave Aronberg, who has been sued by the Palm Beach Post to release the grand jury records; Sheriff Ric Bradshaw, whose department’s favored treatment of Epstein while he was in the Palm Beach County jail is part of an ongoing state criminal investigation; and ex-State Attorney Barry Krischer, part of the same investigation in connection with his decision not to prosecute Epstein on child-sex charges," wrote Julie Brown, a reporter who has extensively covered the Epstein case.

Continue Reading
 

Breaking Banner

WATCH: Buffalo cops and firefighters cheer officers charged with assault as they leave the courthouse

Published

on

According to a report from both CNN and MSNBC, the two Buffalo police officers who were charged with second-degree assault after shoving a 75-year-old anti-police brutality protester to the ground where he sustained head injuries were greeted with applause after they were arraigned on Saturday morning.

MSNBC's Alex Witt noted that both officers were released without having to post bail.

According to ABC News, "Officers Aaron Torglaski and Robert McCabe were charged with second-degree assault during their video arraignments on Saturday and were released on their own recognizance. They both entered no guilty pleas and are expected back in court on July 20."

Continue Reading
 
 
You need honest news coverage. Help us deliver it. Join Raw Story Investigates for $1. Go ad-free.
close-image