Economics
Trump's New Tariffs Could Hit U.S. Shoppers Where It Hurts
- Tax on the electronics dominating imports may be inevitable
- ‘The eventual losers will be the U.S. consumers,’ CIMB says
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President Donald Trump is searching for more China-made goods to tax. His hunt could put the squeeze on the American consumer’s wallet.
As the U.S. president threatens tariffs on an additional $200 billion in Chinese imports, he may find it difficult to spare electronic goods, clothing and textiles that account for half of all Chinese exports to the U.S. Last week, Trump’s $50 billion hit list of made-in-China goods largely focused on high-technology industries such as robotics, aerospace and cars.