Price Hikes From Rising Tariffs Loom Ahead of Busy Shopping Seasons

Nation/World
A family shops at a Kmart in Rosemead on Nov. 22, 2018. ((Credit: FREDERIC J. BROWN/AFP/Getty Images)

A family shops at a Kmart in Rosemead on Nov. 22, 2018. ((Credit: FREDERIC J. BROWN/AFP/Getty Images)

This is an archived article and the information in the article may be outdated. Please look at the time stamp on the story to see when it was last updated.

Major retailers are sounding the alarm: The U.S.-China trade battle could be coming to a mall near you in the form of higher prices in time for the back-to-school and holiday shopping seasons.

President Trump is threatening to levy 25% tariffs on about $300 billion worth of Chinese imported goods that include clothing, shoes, household items, mobile phones, bedspreads, toys, sporting goods and school supplies such as calendars, pens and pencils.

If he follows through, the tariffs probably would take effect in late June or July, and American consumers would see higher prices on many of those Chinese imports in the following weeks, according to retailers, analysts and trade associations.

“We’re going to do everything we can to keep prices low” but “increased tariffs will lead to increased prices, we believe, for our customers,” Brett Biggs, chief financial officer of Walmart Inc., the nation’s largest retailer, told reporters last week.

Read the full story on LATimes.com.

Most Popular

Latest News

More News

KTLA on Instagram

Instagram

KTLA on Facebook

KTLA on Twitter