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Americans are about to feel a big hit to their wallets when shopping online. New tariff policies that took effect this summer are making imported goods much more expensive. The days of cheap overseas bargains are coming to an end.
President Trump’s tariffs are now at their highest levels since the 1930s, with an average rate of 18.3 percent. This means almost everything coming from foreign countries costs more to import. American families will pay about $2,400 more per year because of these price increases.
The biggest price jumps will hit clothing and shoes the hardest. Shoe prices are going up by 40 percent and clothing by 38 percent in the short term. Even after people adjust their shopping habits, shoes will still cost 19 percent more and clothes 17 percent more.
Small online businesses that rely on cheap foreign goods are scrambling to survive. Many eCommerce companies built their profits on importing low-cost items from China and other countries. Now they must raise prices or find new suppliers to stay in business.
The government also closed a major tax loophole that let overseas packages under $800 enter America without duties. This “de minimis” rule helped Chinese retailers flood our markets with ultra-cheap goods. Closing this loophole levels the playing field for American businesses.
While these changes hurt consumers in the short run, they protect American jobs and manufacturing. For too long, foreign countries have taken advantage of unfair trade deals. These tariffs force other nations to compete fairly with American workers.
Critics complain about higher prices, but they ignore the bigger picture. Strong tariffs bring manufacturing jobs back to America and reduce our dependence on hostile foreign nations. Short-term pain leads to long-term economic strength.
American consumers must accept that the era of artificially cheap foreign goods is over. Supporting American-made products and workers requires sacrifice, but it builds a stronger economy for our children and grandchildren.
