Trump Tarriffs to Hurt Consumers, Not Just Farmers

It’s not just the nation’s farmers who are feeling the negative effects of the tariffs that Donald Trump has imposed on imports from China. The resulting trade war between the two countries cut off one of farmers’ biggest customers. There already have been a record number of bankruptcies for Midwest farmers. Soybean futures have hit the lowest price levels in a decade. Commodity prices for pork and cotton also are spiraling down. But more than just farmers are feeling the pain.

If Trump imposes even more tariffs, as he’s threatened, those added costs will be borne not by China but by U.S. companies and U.S. consumers. Those consumers may be forced to pay higher prices for shoes and clothing at stores like Walmart and Target. Walmart imports 26% of its products from China, while Target imports 34% of its merchandise from China. Others already feeling the pinch are people buying new appliances from manufacturers that rely on imported materials and parts—prices for washing machines already are up 12% because of the tariffs.


When Trump regularly threatens to impose more tariffs on Chinese goods, raise existing tariffs, or impose tariffs on other countries, such as India and Mexico, U.S. businesses can’t plan on future manufacturing with any certainty, so they order fewer supplies. Already, steel production is down, and plants are closing.

The total tariffs would mean that the average family could expect to pay $2,294 more annually for goods, according to a report from Tariffs Hurt the Homeland, a bipartisan campaign against the levies. CNBC compiled a list of common items that are expected to cost consumers more if all of the Trump tariffs go into effect.