From CNBC, January 20:
- Tariff proposals put the complex global supply chain front and center as President-elect Donald Trump was inaugurated Monday.
- On the campaign trail, Trump said he would add tariffs for goods made in other countries, especially China.
- Those higher costs on sneakers, cars, furniture and more could force many consumers to change their buying habits.
Many of the items that U.S. shoppers browse and buy in retailers’ aisles come from far-away factories or farms — a reality that could soon force many consumers to change their buying habits.
Sneakers, T-shirts, beer and other common household items are often made in countries like China, Mexico and Canada before they wind their way to a big-box retailer, grocer or mall in the U.S. That complex global supply chain was front and center Monday as President-elect Donald Trump was inaugurated. He is widely expected to announce new tariffs on imports in the coming weeks.
While tariffs have become a familiar concept for more Americans since Trump implemented them on metals and other key materials during his first term in office, the levies he has threatened for his return to the White House could have a much bigger effect on household budgets.
Most people have little grasp of just how many items could see price hikes due to the duties: from avocados to children’s toys, to chocolate and cars, experts told CNBC. Proposed tariffs on products from China, Mexico and Canada — the three-largest U.S. trading partners — would likely affect U.S. consumers the most.
The exact details of those tariffs, including which countries would be affected and how high the duties might be, remain unclear and could change. On the campaign trail, Trump spoke about implementing 10% to 20% tariffs on all countries, and putting levies as high as 60% on Chinese goods.
While news reports in recent weeks have suggested Trump could scale back his tariff proposals, and could be using them as a negotiating tactic to bend foreign governments to his will, the president-elect has denied those reports....
....MUCH MORE, they go deep.
