"It will probably come as no surprise: Consumers have paid up to 55 percent of the tariffs imposed by Trump, according to a Goldman Sachs report released in mid-October. And that number could go higher still: The New York Times reported that even some companies that initially absorbed costs instead of passing them on to consumers are now looking for ways to boost profits that tariffs ate into."
"The new tariffs - especially those resulting from the end of the de minimis rule - create new headaches for consumers. I've gotten in the habit of triple-checking where products are shipping from, and if I'm not certain, I message the seller and confirm. Some shoppers' packages are stuck in customs and in transit, and UPS told NBC News that it was "disposing of" some shipments amid the backlog."
"Instead of going through Congress, Trump imposed tariffs using the International Emergency Economic Powers Act. It's hard not to feel like Trump's tariffs are a continuous own-goal, over and over again - especially because after coming down hard on certain countries and commodities, the Trump administration regularly cuts side deals to decrease the taxes. You know how retailers will sometimes raise prices before a sale so the markdowns make shoppers think they're getting a deal?"
Consumers have paid up to 55 percent of tariffs imposed by Trump, with that share potentially rising as companies seek to recoup lost profits. The end of the de minimis rule has created added costs and logistical headaches, prompting shoppers to triple-check product origins and contact sellers. Many packages are stuck in customs or transit, and some shipments have been disposed of amid backlogs. Tariffs are being challenged in court, with the Supreme Court set to hear arguments, and the administration used the International Emergency Economic Powers Act instead of Congress to impose them. Side deals have sometimes reduced taxes after initial imposition.
Read at The Verge
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