President Trump is still pretty pleased with his expanding trade war, but many Republicans in Congress and prominent GOP donors and advocacy groups are not. And Trump's first salvo, tariffs on imported aluminum and steel imposed in June, might start irking American shoppers soon, too. "Consumers are starting to see higher prices for recreational vehicles, soda, beer, and other goods that now cost more to make as a result of recent tariffs on metals and parts," The Wall Street Journal reports. In recent days, Coke, Polaris Industries, Winnebago, and Sam Adams' Boston Beer Co. have all cited Trump's tariffs for coming price hikes.
Minnesota-based Polaris is also shifting some production for its Indian-brand motorcycles to Europe to get around retaliatory EU tariffs, joining its Wisconsin neighbors Harley-Davidson. If you don't buy canned beverages or plan to purchase an RV or motorcycle, you may not feel this round of tariffs, but barring quick resolution to Trump's trade fights, more broader hikes seem imminent. "Tariffs on a host of additional imported products from China this month have added costs for companies that use those components to assemble their products in the U.S.," the Journal reports. You can read more about the impact on consumers at The Wall Street Journal.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
-
US charges Indian tycoon with bribery, fraudSpeed Read Indian billionaire Gautam Adani has been indicted by US prosecutors for his role in a $265 million scheme to secure solar energy deals
-
Boeing machinists approve contract, end strikeSpeed Read The company's largest union approved the new contract offer, ending a seven-week strike
-
US economy still strong in final preelection reportSpeed Read It grew at a solid 2.8% annual rate from July through September
-
Boeing machinists reject deal, continue strikeSpeed Read The rejection came the same day Boeing reported a $6.2 billion quarterly loss
-
Ports reopen after dockworkers halt strikeSpeed Read The 36 ports that closed this week, from Maine to Texas, will start reopening today
-
Empty-nest boomers aren't selling their big homesSpeed Read Most Americans 60 and older do not intend to move, according to a recent survey
-
Brazil accuses Musk of 'disinformation campaign'Speed Read A Brazilian Supreme Court judge has opened an inquiry into Elon Musk and X
-
Disney board fends off Peltz infiltration bidSpeed Read Disney CEO Bob Iger has defeated activist investor Nelson Peltz in a contentious proxy battle
