President Donald Trump’s latest round of tariffs added a new dimension to the trade war with China: US consumers are going to get hit directly.
The previous round of tariffs imposed by the president on $50 billion worth of Chinese goods focused almost exclusively on industrial goods and intermediate parts on final goods that are then sold to consumers.
This led to an indirect hit to consumers. As businessesfaced higher costs for input goods, the companies were forced to either cut back in other areas — such as laying off workers — or pass along the price increase to consumers.
via Trump’s latest tariffs are about to hit you where it really hurts – AOL Finance
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