WASHINGTON: Prices for electronics sold online at top U.S. retailers were up slightly heading into the critical U.S. shopping season, but sites including Walmart Inc and Amazon.com Inc have held prices steady for many other popular holiday products despite the pressure from tariffs on Chinese imports.
That's lower than the average rate of inflation during the same period, which stood at 2.4per cent in 2018 and about 1.8per cent in 2019 so far. About US$539 billion worth of goods came into the United States from China in 2018, making the country the largest supplier of imported goods, the U.S. Trade Representative said. U.S. President Donald Trump has imposed tariffs and threatened more as leverage in trade negotiations with Beijing.
On Sept. 1, the U.S. imposed a 15 percent tariff on many consumer goods from China that increased the cost of goods sold for most retailers. For example, Dollar Tree said tariffs will increase its cost of goods sold by about US$19 million in the fourth quarter if tariffs are fully implemented.
Source: Tech Daily Report (techdailyreport.net)
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