American business: ultimately, every American will pay the price.

On September 17, US President Trump announced a 10% tariff on $200 billion worth of Chinese imports. 10% of the new tariffs will come into effect in September 24th and will rise to 25% in January 1, 2019. The U.S. Retail Federation and some experts believe the move will put high economic costs on American consumers, the main driver of the U.S. economy.

According to Agence France-Presse on September 19, U.S. President Trump levied large-scale tariffs have affected Chinese manufactured goods throughout the United States. Half of all Chinese purchases by Americans, from shampoo and furniture to vacuum cleaners, handbags and mobile phones, will be subject to a 10% tariff Monday, which will rise to 25% in about three months.

Matthew Shay, chairman of the National Retail Federation, said in a statement after Trump announced the latest tariffs on China: "Every trade war escalates, the risk to American consumers increases."

"We can not afford to escalate the trade war again, especially the holiday shopping season is coming."

According to official documents and trade data, Trump's new protectionist measures cover about 11,400 Chinese manufactured goods, equivalent to an annual import of about $250 billion.

Chad Bown, a trade expert at the Peterson Institute for International Economics, said that by November's mid-term elections, "Trump's new tariffs in 2018 could affect 40% of U.S. imports."

Although the Trump administration may underestimate these risks, economists have long warned that tariff increases will ultimately cost everyone in the United States.

A regular University of Michigan consumer confidence survey shows that trade is one of the top concerns of American families.

As tariffs affect the range and quantity of products produced in most industrial sectors, they may lead to some consumer spending cuts.



Black Friday shopping season will be affected

Consumption is a historic driver of the U.S. economy. In U.S. stores and large retail stores such as Wal-Mart, U.S. consumers will inevitably buy shoes, clothing and electronics made in China.

American consumers are very sensitive to prices, and if consumption increases, nationalism will be reduced.

Last year's poll showed that the vast majority of people would prefer to buy American goods if the prices of similar goods made in foreign countries were the same. But as prices of goods made in the U.S. rise, the number of consumers who tend to buy U.S. products begins to decline.

Economists expect that the rise in Chinese commodity prices will lead to a sharp decline in sales.

Barclays said the impact of tariffs on U.S. gross domestic product was small, well below 1%, but "U.S. households will feel more or less the impact of tariffs on the economy."

Analysts say tariffs have pushed up durable goods prices, which account for about 0.6% of GDP in the US.

A recent study by the American Retail Federation shows that American consumers may spend an additional $6 billion a year on tariffs imposed on goods made in China.

But the Federation says American consumers may have no choice because similar products made elsewhere are more expensive.

On November 23rd, the day after what retailers call Black Friday's Thanksgiving holiday, U.S. consumption will peak, marking the unofficial start of the Christmas shopping season.

"The U.S. government's mere mention of tariffs on all the remaining Chinese imports raises serious concerns among retailers, because such large-scale tariffs will involve all aspects of American life," Shea said.