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Did your next sneaker purchase just get pricier? With personal spending driving two-thirds of the U.S. economy, new data reveals how tariffs are squeezing everyday budgets – and your favorite kicks might be Exhibit A.
The Price Hike No One Asked For
Since 2018, tariffs on imported goods have lingered like an uninvited guest. In 2023 alone, U.S. shoppers paid an extra $9.3 billion just for shoes – 99% of which are imported, with over 60% coming from the Chinese mainland.
Why Your Closet Costs More
Think beyond footwear: From electronics to apparel, tariffs trickle down to your checkout total. Analysts warn this 'tax' on imports could slow economic growth by making essentials + luxuries alike less affordable.
What's Next for Shoppers?
With global supply chains still adapting, experts say price pressures may persist. One thing's clear: When trade policies bite, consumers often feel the teeth – whether they realize it or not.
With personal spending driving two-thirds of the U.S. economy, new data reveals how tariffs are squeezing everyday budgets – and your favorite kicks might be Exhibit A.
In 2023 alone, U.S. shoppers paid an extra $9.3 billion just for shoes – 99% of which are imported, with over 60% coming from the Chinese mainland.
Analysts warn this 'tax' on imports could slow economic growth by making essentials + luxuries alike less affordable.
One thing's clear: When trade policies bite, consumers often feel the teeth – whether they realize it or not.
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