iPhones and Nikes to get more expensive in Trump’s trade war

iPhones and Nikes to get more expensive in Trump’s trade war

The ripple effects from the biggest assault on free trade in decades will be felt across the world - not just on US shop shelves.

Import duties work similarly to taxes. They must be paid by the importing company - in this case, a company in the US. The higher costs of importing companies will be passed on to consumers, which will result in higher prices and could lead to higher inflation, analysts in the German weekly Focus warn.

Six everyday goods set to get more expensive for Americans after Trump’s tariffs

With U.S. President Donald Trump imposing sweeping tariffs on imports, everyday goods worth millions of dollars are set to become more expensive for American consumers. The latest trade measures include taxes ranging from 10% to 50%, with the highest rates targeting what the administration calls the “worst offenders.” While Canada and Mexico have been exempted from some of the harshest tariffs, they—along with China—continue to face duties on se…