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In fact, Americans who start their holiday shopping this week will likely retrieve items already subject to Trump's tariffs.
Fortunately for this year's buyers, prices are not likely to increase further. US importers are paying the fees, and most of the items on sale for Black Friday were already billed before duty came into effect, said Rick Helfenbein, president of the American Apparel and Footwear Association.
"Buyers may be pardoned during this Thanksgiving season, but they will pay more in the spring," he added.
The next year could be very different if Trump and Chinese President Xi Jinping fail to reach a trade agreement before the end of the year, when Trump says he will raise tariffs by 10 % to 25%.
"Once you reach the 25% mark, you will see a further increase in prices for the end consumer," said Christopher Shaker, consumer product analyst and partner at RSM, an auditing firm. tax advice and consultancy for the intermediate market. companies.
The Trump administration also it is given as a priority to vigorously attack China for committing intellectual property theft and technology transfer. Before imposing tariffs on goods worth $ 200 billion in September, Trump had imposed taxes on goods worth $ 50 billion in China – but these earlier cycles did not include many goods from China. consumption.
China has fought back with tariffs on US goods worth $ 110 billion and is expected to react more if the US went ahead with the January increase.
Trump also suggested that he could go ahead with the imposition of a new round of duties on $ 267 billion worth of additional goods if no agreement can be reached, effectively covering all Chinese exports to the United States.
This measure would tax even more consumer goods from China, including televisions, Apple watches, Air Pods and Fitbits.
Until now, a relatively small amount of clothing from China has been hit by tariffs, but a new slice would be important. In total, the United States receives 41% of its clothing imports from China, 80% of accessories and 73% of shoes, said Helfenbein.
"It's almost as if this year and next year were two different worlds," he said.
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