pricey Crocs and cars
Six Things Expected To Get More Expensive If Trump's Trade Plans Are Enacted
The Lede
President-elect Donald Trump has big plans for tariffs. If implemented, Americans could see prices rise across several product categories. Some companies that produce apparel and auto parts have already started preparing to raise prices if Trump enacts his plans, and some trade experts predicted that a range of industries, including electronics and appliances, would see higher prices.
Key Details
- Experts told Business Insider that Trump could implement his proposed tariff on Chinese goods quickly β within the first half of 2025 β using an authority in the Trade Act.
- It was possible the president-elect wouldn't follow through on the 60% tariff he proposed on the campaign trail. He also proposed a 10% to 20% tariff on goods imported from other countries.
- The impacts of his previous tariffs were mixed. In 2018, for example, tariffs on washing machines caused prices to rise on laundry items.