US media said that tariffs on China might hurt Christmas shopping for low-income Americans and Wal-Mart.
According to the US Forbes biweekly website on October 20th, in the upcoming Christmas season, tariffs on China will make shopping more expensive. American consumers will have to pay more for Christmas items that are usually imported from China.
According to reports, tariffs on China will also damage retailers serving these consumers, such as Wal-Mart.
Last month, Wal-Mart warned the White House that the new tariffs could cost American families more to buy goods – from cribs to Christmas lights. Wal-Mart did not respond to requests for comment from reporters.
As with the average sales tax, some tariffs on China will be borne by the seller. Consumers will take the other part in the form of price increases.
The report pointed out that this is terrible news for all Americans, and worse for those living in poverty. They will be forced to reduce the number of Christmas items they buy.
The report also pointed out that this is also bad news for retailers like Wal-Mart. According to InfoScout, low-income people in the United States spend 20% to 22% more on Wal-Mart than other retailers.