By Chao Deng
President Trump’s announcement of 10% across-the-board tariffs on all imports to the U.S. and even higher rates for some nations’ goods will likely affect the prices of everything from small items like cereal to big-ticket purchases like cars.
Many economists say the breadth of the tariff hike—with big hits concentrated on major trading partners—will drive inflation higher than they had initially thought. It could take some time to see the price hikes, as businesses work out just how much of the tariff cost to pass along to consumers.
Below are several items for which the U.S. overwhelmingly depends on overseas suppliers, according to analytics firm Trade Partnership Worldwide. Some will face tariff rates in the high double digits—and could have significant price hikes.
Cigars
U.S. cigar lovers might soon be paying more for their tobacco experience, as the U.S. gets about 64% of its imported cigars from the Dominican Republic, according to TPW. Goods from the country will soon face a 10% U.S. tariff. The cigar category includes cigarillos, which are short and thin and sometimes have added fruit flavors.
Engagement rings
An employee fills a ring at a diamond jewelry manufacturing factory in Mumbai. PHOTO: HEMANSHI KAMANI/REUTERS
Marriage proposals might soon get more expensive for those looking to pop the question with a diamond engagement ring. The U.S. gets both 92% of its imported synthetic diamonds and 45% of its imported cut-and-polished diamonds from India. The country will soon face a 26% tariff—a significant enough hit that importers will likely want to pass on to consumers, at least in part.
Pineapples
The U.S. gets about 88% of its imported pineapples from Costa Rica. Goods from the country will soon be subjected to a 10% U.S. tariff. The category includes both fresh and dried forms of the fruit.
Disclaimer
The information contained in South Florida Reporter is for general information purposes only.
The South Florida Reporter assumes no responsibility for errors or omissions in the contents of the Service.
In no event shall the South Florida Reporter be liable for any special, direct, indirect, consequential, or incidental damages or any damages whatsoever, whether in an action of contract, negligence or other tort, arising out of or in connection with the use of the Service or the contents of the Service. The Company reserves the right to make additions, deletions, or modifications to the contents of the Service at any time without prior notice.
The Company does not warrant that the Service is free of viruses or other harmful components
