CHARLOTTE, N.C. — Consumers may face higher prices when shopping online as U.S. tariffs on products made in China begin to take effect.
This is raising concerns about price hikes on sites like Shein and Temu.
These retailers, known for offering affordable products, may pass on the cost of new tariffs to shoppers.
OUR SOURCES:
WHAT WE FOUND:
Mark Henry with Alloy Wealth Management says that tariffs are essentially taxes imposed by the government on imported goods. Henry explained that if a product typically sells for $100 and a 10% or 20% tax is imposed, the price could rise to $110 or $120, respectively.
The Trump administration has implemented a 25% tariff on all steel and aluminum imports and a 10% tax on all products from China. President Trump has also threatened tariffs on goods from Canada and Mexico. The administration has recently introduced reciprocal tariffs, meaning the U.S. would impose fees based on tariffs other countries charge on U.S. products.
Consumers should …