Happy Labor Day - Did you have to give a kidney for your kids "Back To School" Shopping?

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https://finance.yahoo.com/news/trump-tariffs-china-september-1-040027636.html- Trump is raising your taxes today

With far less fanfare than the tax cuts President Donald Trump signed into law in 2017, a series of tax hikes goes into effect today on thousands of everyday items imported from China.

A new tariff of 15% will be added to the cost of more than 40% of all consumer products imported from China on Sept. 1. That amounts to about $109 billion worth of annual imports, according to research firm Panjiva. On Dec.15, the 15% tariff will be assessed on another $155 billion worth of consumer goods from China. At that point, there will be new Trump tariffs on virtually everything imported from China.

Trump has already imposed 25% tariffs on about $250 billion worth of Chinese imports, but those are mostly component products consumers never see. Those tariffs have led to some price increases, with some importers also taking a hit through lower profits. In some cases, Chinese suppliers have lowered their own prices to offset the tariff. Importers have also begun seeking new suppliers outside China, to avoid the tax.
Happy Labor Day - Did you have to give a kidney for your kids "Back To School" Shopping?
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