As the high tariffs imposed by US president Donald Trump take effect, Americans are beginning to feel the squeeze, and in some cases, it's a tough one. From clothing and electronics to car tyres and strollers, prices are rising as retailers struggle with higher costs due to higher import duties, particularly on items produced in China, as per a report.
While Trump had warned that there would be short-term consequences due to the tariffs, but higher prices might not be temporary, as per Vox.
Tariffs Begin to Bite
According to the report, US retailers are now starting to pass on those extra costs to consumers. Affordable Chinese platforms such as Temu and Shein have increased prices, Shein, by around 10% over two days, and Temu with "import charges ..
While, on May 2, Trump removed a tariffs on low-value imports worth less than $800, so most of Temu and Shein's orders would be exempt from tariffs, as per the report.
Amazon sellers, meanwhile, have increased prices by almost 30% on hundreds of products, as per SmartScout, an e-commerce data firm.
Which Products Are Becoming More Expensive?
Broadly across the board, a vast array of goods are experiencing price increases. Here's a snapshot:
Apparel, particularly fast fashion from Chinese brands
Electronics, such as gadgets and accessories imported from China
Home appliances, ranging from cookware to kitchen appliances
Baby items like strollers, toys, and nursery furniture
Automobile tyres, with companies such as Goodyear increasing price ..
FAQs
Why are prices rising all of a sudden?
Because new tariffs have made it more expensive for companies to import goods, especially from China — and those costs are being passed on to consumers.
Are American-made products safe from price hikes?
Not entirely. Even US-made products often rely on foreign parts, which are now more expensive.
Source Name : Economic Times