Economics
Trump’s Next Tariff Blow Could Be 10 Times Worse for U.S. Shoppers
- Citi economists warn companies may pass along higher costs
- New round would encompass more Chinese-made consumer goods
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The next round in the U.S.-China trade war could be the costliest one yet for American consumers.
The U.S. is said to be preparing to announce tariffs on all remaining Chinese imports by early December, and the impact at the checkout counter may be as much as 10 times higher than earlier rounds of levies, according to a report from Citigroup economists.