US consumers are starting to feel the impact of President Trump’s tariffs on Chinese imports, leading to price hikes across various goods. According to SmartScout, an Amazon price analysis software tool, nearly 1,000 products have seen a significant increase in prices, with an average rise of 30%. This surge is primarily attributed to tariffs imposed by the US government on Chinese imports.
Amazon has noted that these price hikes affect just 1% of its top-selling products and are largely skewed by small increases. The company maintains that it offers competitive pricing across its vast product selection, often beating other retailers’ prices.
Other major e-commerce players like Shein and Temu have also started charging tariff surcharges to customers. Chinese e-commerce sites have announced price hikes on various goods after the US closed a loophole allowing duty-free imports worth less than $800.
The global trade tensions between the US and China have created uncertainty, making it challenging for companies to plan and adapt to changing tariffs rates. While President Trump expects tariffs to be reduced substantially in the future, officials in Beijing remain opposed to the move.
Source: https://www.cbsnews.com/news/amazon-prices-rising-trump-tariffs-temu-shein