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HOLD ON TO YOUR WALLET: Trump's trade war with China is about to start hitting the goods you buy most

Business Insider
HOLD ON TO YOUR WALLET: Trump's trade war with China is about to start hitting the goods you buy most

President Donald Trump's escalating trade war with China could very quickly get very real for millions of Americans. Trump's tariffs on Chinese goods have so far mostly spared US consumers, focusing instead on industrial materials such as bulldozers or large factory equipment. While those costs are likely to indirectly hit average Americans, Trump's latest proposal — which would place tariffs on $200 billion worth of Chinese exports to the US — would hit much closer to home. The list, released Tuesday, could add 10% duties on consumer goods including TVs, leather handbags, buttons, and basic groceries. The Office of the US Trade Representative, which put out the list and would be responsible