Companies across the U.S. are preparing to increase prices in response to import tariffs proposed by Donald Trump ahead of the upcoming election. Producers in sectors such as clothing, footwear, baby products, and auto parts plan to pass these costs to consumers. Executives from firms like Columbia Sportswear and AutoZone indicate that U.S. buyers will ultimately shoulder the financial burden of the tariffs. Trump's tariff plans include a 60% tax on Chinese imports and up to 20% fee on other foreign goods, which could raise costs for American households by up to $2,600 annually.
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00:00It's Benzinga, bringing Wall Street to Main Street.
00:02Companies across the U.S. are preparing to increase prices in response to import tariffs
00:07proposed by Donald Trump ahead of the upcoming election.
00:10Producers in sectors such as clothing, footwear, baby products, and auto parts plan to pass
00:15these costs to consumers.
00:18Executives from firms like Columbia Sportswear and AutoZone indicate that U.S. buyers will
00:22ultimately shoulder the financial burden of the tariffs.
00:26Trump's tariff plans include a 60% tax on Chinese imports and up to 20% fee on other
00:31foreign goods, which could raise costs for American households by up to $2,600 annually.