U.S. media say tariffs on China could hurt Christmas shopping for low-income Americans and Wal-Mart. The tariffs on China will make shopping more expensive in the coming Christmas season, according to the Forbes Bi-weekly website October 20.
American consumers will have to pay more for Christmas items that are normally imported from China.
The report said tariffs on China would also undermine retailers that serve these consumers, such as Wal-Mart. Last month, Wal-Mart warned the White House that the newly imposed tariffs could make it more expensive for American households to buy goods-from cribs to Christmas lights.
Wal-Mart didn't respond to a request for comment. As with normal sales tax, some tariffs on China will be borne by sellers.
The other part will be borne by consumers in the form of higher prices. The report says it is bad news for all Americans, and worse for those who are in dire straits.
They will be forced to cut back on the number of Christmas supplies they buy. The report also points out that this is bad news for retailers such as Wal-Mart. U.S. low-income people spend 20% to 22% more at Wal-Mart than other retailers, according to InfoScout.
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