How much new China tariffs could cost American households: JP Morgan analysts

21-Aug-2019 Intellasia | FoxBusiness | 6:02 AM Print This Post

The next round of tariffs Opens a New Window. on Chinese goods could knock American households for $1,000 per year, according to a new analysis from JP Morgan.

The US is poised to add 10 percent tariffs on $300 billion in Chinese goods with some items subject to higher duties starting September 1 amid the ongoing trade war. Opens a New Window. President Trump said last week that the tariffs for some items like cellphones, laptops, video games and clothes will be delayed until December 15.

Yahoo Finance reported the $1,000 hit to American households would be up from about $600 after the first two phases of tariffs on Chinese goods, according to JP Morgan’s analysts.

The upcoming tariffs will come with a larger direct impact for consumers, according to the analysis. That means consumers may be forced to reduce their spending on discretionary goods and services.

https://www.foxbusiness.com/economy/china-tariffs-cost-american-households-jp-morgan

 


Category: China

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