Some clothing, food and other products companies’ executives from the U.S. have warned that the latest round of tariffs on goods from China, could add to the prices in the domestic market.

Yesterday, $200 billion in Chinese imports saw an increase of tariff by 25%.  China has answered by clamping an increase in tariff to the tune of $60 billion on a range of U.S. goods that include frozen vegetables and liquefied natural gas.

In the next few days, the flow of trade damage is showing no signs of abating, as President Trump has threatened an additional round of tariffs on $300 billion. This round would cover everything that US imports from China currently.

Del Monte Foods Inc.’s Chief Executive Officer Greg Longstreet told Reuters at a conference in New York. “It’s an inflationary environment. A lot of that’s going to have to be passed on. The consumer is going to have to pay more for a lot of critical goods.” The company has already raised prices on many products that it imports from China, and if tariffs go up, more price rise is on its way.

Almost all sectors that currently use Chinese products are in for a much higher price rise given the way Trump is pushing tariffs. The final hit will be on the consumers, executives say.

Posts:

  • President Trump has threatened an additional round of tariffs on $300 billion, which could cover everything that US imports from China currently.
  • $200 billion in Chinese imports saw an increase of tariff by 25%. China has answered by clamping an increase in tariff to the tune of $60 billion on a range of U.S. goods

U.S. Executives Warn Consumers Will Pay for Trump’s Tariffs