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.
-
Supreme Court takes up Trump birthright appealSpeed Read The New Jersey Attorney General said a constitutional right like birthright citizenship 'cannot be turned on or off at the whims of a single man'
-
'It makes absolutely no sense'Instant Opinion Opinion, comment and editorials of the day
-
Court slams Trump, senator visits Ábrego GarcíaSpeed Read The case 'should be shocking not only to judges' but all Americans with an 'intuitive sense of liberty'
-
Who would win in a China-US trade war?Today's Big Question Tariff pain will be higher for China but Beijing is betting it can weather the storm
-
Are free trade zones and alliances the answer to Trump's tariffs?Today's Big Question Temptation is to retaliate with trade barriers, but most agree nations should focus on targeted trade pacts and strengthening cooperation
-
Trump tariffs: five scenarios for the world's economyThe Explainer A US recession? A trade war with China? How 'Liberation Day' could realign the globe
-
Markets notch worst quarter in years as new tariffs loomSpeed Read The S&P 500 is on track for its worst month since 2022 as investors brace for Trump's tariffs
-
Tesla Cybertrucks recalled over dislodging panelsSpeed Read Almost every Cybertruck in the US has been recalled over a stainless steel panel that could fall off
-
Why are stocks in 'correction' and not a bear market?Today's Big Question Investors still hope for a 'flip' in Trump's trade policies
-
Trump's tariffs: is EU's retaliation the best move?Today's Big Question Global US levy on steel and aluminium imports has the EU hitting back but the UK keeping options open
-
Crafting emporium Joann is going out of businessSpeed Read The 82-year-old fabric and crafts store will be closing all 800 of its stores
