Last week's decision by the Trump administration, to increase tariffs to 25 percent on $200 billion worth of goods made in China, may present U.S. consumers with an opportunity.
Setting aside differing approaches to make China more accountable on fair trade, consumers may want to consider what to buy now before tariff-related price hikes show up on store shelves. The Los Angeles Times recently quoted a study noting that if the impact of last year's tariffs were annualized, the additional cost per household would be $419. If more tariffs go into effect this year, the price hikes could double.
Chemicals and aluminum are on the tariff list, and they affect the prices of many consumer goods. These items include $11.3 billion in furniture imports, $9.2 billion in auto parts and $6.6 billion in luggage.
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