More tariffs on Chinese goods have been put in place by the Trump administration. The new 15% tariffs kicked in Sunday and will impact clothing, shoes, sporting goods and select electronics.
Jim Rounds is an economist with Rounds Consulting in Tempe. He says these tariffs will be felt more by shoppers because they were placed on consumer goods.
“I think that the consumer is gonna be able to see the additional price hike, where before it indeed was hidden to some extent, even though all of these tariffs eventually make their way through to the consumer.”
Estimates show the new tariffs could cost American families about $1,000 a year.
