New tariffs on Chinese imports set to hit your wallet starting this weekend
HONOLULU, Hawaii (HawaiiNewsNow) - President Trump’s trade war with China is about to hit your wallet again.
Starting Sunday, the U.S. will begin collecting 15% tariffs on $112 billion in Chinese imports.
The higher costs for importing products are passed on to consumers.
When the new tariffs kick in at 12:01 a.m. Sunday, 69 percent of the consumer goods Americans buy from China will face the import taxes ― up from 29% now.
Those who work in repairing or selling electronics in the islands are watching the developments very closely because many components needed to make them are included in the new list of goods.
“Anybody who is involved in putting together, assembling or deploying computers is affected because if they buy components or parts of their computers those prices are going up," said technology columnist Ryan Ozawa. "When they used to help you fix a computer for $700, they are now looking at $900. So those niche industries are first to be impacted.”
For more than a year, the world’s two largest economies have been locked in a high-stakes duel marked by the president’s escalating import taxes on Chinese goods and Beijing’s retaliatory tariffs.
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