Big Price Hikes Undercut Trump Bet China Will Absorb Tariffs
Takeaways NEW
Donald Trump says China will likely bear the brunt of his 145% tariff on the world’s second-largest economy. But prices from some of the most popular sellers of made-in-China goods already suggest US shoppers will be paying a major portion of the bill.
A swathe of products on e-commerce giants like Temu and Shein Group Ltd. have seen prices soar in the US. A set of kitchen cleaning towels selling for $1.28 on April 24 set the outer limit with a 377% jump to $6.10 a day later.