President Donald Trump has said tariffs on another $257 billion worth of Chinese imports are ready to go. That round will be more easily felt by the avera…
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After months of trade escalations between Washington and Beijing, headlines about incoming tariffs on Chinese products may seem almost routine. But the next round of escalations could be a whole new game for American consumers, triggering broader effects on prices and on the US economy.
While widespread inflationary pressure from tariffs hasn’t been apparent so far, according to analysts at Citi Research, that could quickly change. There have already been signs of modest price pressures building across the US, particularly within supply chains.
« The additional tariffs on China have the potential to boost inflation even more than what we currently anticipate, » the analysts wrote of the proposed next round of tariffs. President Donald Trump has signaled that tariffs on roughly $257 billion worth of additional Chinese products, using 2017 import figures, could be imposed as he tries to change trade practices he sees as unfair.
How would this round be different from the previous few? The import taxes implemented to date — on about $250 billion worth of products — affect less than half of consumer goods imported from China, according to Citi.
But the next round of duties would effectively place a tax on every Chinese product coming into the US, including thousands of household products.
