Economists predict you’ll start to see higher prices at your grocery store or favorite retailer in the next two days.
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It’s all because of an escalating trade war between the U.S. and China.
“We’re the piggy bank that everybody steals from including China,” said President Donald Trump.
On Friday, the Trump administration increased tariffs on $200 billion worth of Chinese goods to 25%.
What does that mean for you?
Items you might be putting in your shopping cart could suddenly see a spike in price. Like travel bags or backpacks, your favorite cut of meat, even light bulbs, and that’s not all.
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The tariffs list is 194 pages of products you buy at your local store.
Consumer Barbara McDonald isn’t happy about the news.
“We as the taxpayer are going to have to be responsible for the tax that’s implemented on the goods,” McDonald said.
The National Retail Federation warns that when U.S. companies face tariffs they cut costs elsewhere which could mean lower wages and fewer employees.
But in response, the president tweeted “build your products in the United States and there are NO TARIFFS!”
The president also tweeted that his administration will continue to negotiate with China and that tariffs would be removed depending on the outcome of those negotiations.
Cox Media Group
