American consumers are beginning to feel the influence of President Trump Customs duties on China’s importsespecially online.
Since the second week of April, Amazon sellers have raised prices with around 1,000 products, according to data from SmartScout, a price analysis software tool. Average price increase – almost 30%.
SmartScout founder and CEO Scott Needham has raised costs to CBS MoneyWatch for a wide range of items, from high-tech accessories such as phone charges. Anker, the top selling brand of Amazon that sells mobile charging devices, has increased the price of products on its site, for example, by around 25%.
“This is one of the first coordinated efforts I’ve seen where there’s nothing to explain a non-custom-duty price hike,” Needham said.
Duties are paid by the importer and usually hand over the consumers many or all of their additional costs. Amazon CEO Andrew Jassy told CNBC earlier this month that he hopes US tariffs will raise prices for many consumer goods.
The Trump administration 145% of China’s importsmeanwhile China has retaliated 125% tax on US goods entered into the country. Trump has long accused China of unfair trade practices, saying tariffs will reinvigorate the domestic manufacturing sector and drive economic growth.
Shane and Temu Price are also rising
Other major e-commerce players and retailers have also raised prices to offset higher import costs. Add “Extra Customs Charges” On customer invoices. Chinese e-commerce website Shein and Temu have announced They raise prices after last week closed a loophole that allowed the US to enter US tax-free products under $800.
These price increases have come into effect today. The Temu website runs around $27, a pair of running sneakers that cost $14 last week.
This jump shows the retailer’s struggle to navigate President Trump’s tariff agenda. Sky-High Tariffs Can Makes manufactured goods uneconomical in countries like China. But supply chain renewals and manufacturing mobility can cost hundreds of millions or billions of dollars, experts say.
The uncertainty about tariff rates and how long such taxes will be maintained makes it difficult for businesses to plan.
Trump said this week that the US and China are actively negotiating ways to resolve trade differences and expect tariffs on China’s imports to fall “significantly.” However, Beijing officials soon came The party denied that it was under discussionand instead repeated the demand that the US cancel tariffs on the country.
“Taxes on China could be reduced from the current effectiveness rate of over 100%, but there is no clear timeline,” an analyst at investor advisory firm Oxford Economics said in a report Friday.
