Companies across the United States are preparing for the brunt of President-elect Donald Trump‘s proposed tariffs. Some retailers are coming up with plans to protect their imports from skyrocketing tariffs, but other retailers are unabashed about the effect the duties will have on consumers.
Tariffs are calculated by the U.S. Customs Service after a U.S. importer receives a foreign product. Once the item is on sale for consumers, the cost of the tariff is added to the item’s regular price. Trump has suggested 200% tariffs on Mexico and 60-100% tariffs on China, among others.
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