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President Donald Trump increased tariffs on Chinese goods from 104% to 125% despite announcing a three-month pause on reciprocal tariffs that went into effect on Wednesday.
Other countries subject to tariffs will now see their rates decrease to a universal 10%.
Florida Gulf Coast University economic professor Victor Claar explains how the tariffs would impact everyday shopping.
Claar helped break down the potential price hikes consumers might face. The analysis took place before the tariffs on China increased.
The original total for a selection of items was $142.94 before sales tax.
If the full 125% tariff on Chinese goods were absorbed, the new total would be $321.63.
Marketing professor Gina Tran, who previously worked in the buying division at Michaels and Neiman Marcus, also contributed to the discussion.
She explained that about two-thirds of the tariff’s cost would typically be passed on to the consumer.
However, this might not occur all at once, allowing prices to rise gradually without deterring buyers.
The post FGCU expert explains impact raising tariffs on Chinese products appeared first on WINK News.
