Trump Implements Tariffs on 60+ Countries, Raising Consumer Prices

President Donald Trump is enforcing new tariffs on imports from over 60 countries, including ending the de minimis exemption that allowed duty-free shipments from companies like Shein and Temu, signaling significant changes to online retail and higher costs for consumers. These tariffs, which can be as high as 50% for countries like Brazil and Switzerland, are expected to increase prices on a wide range of goods, from groceries and clothing to electronics and luxury items. Retailers such as Abt Electronics have been preparing by increasing inventory to delay passing costs to customers, but price hikes are anticipated as tariffs take full effect. Despite Trump's urging for retailers like Walmart to absorb the tariff costs, experts and executives expect both retailers and consumers will share the burden of higher prices. The retail sector warns that ongoing trade tensions and uncertainty around tariffs could lead to product shortages, job cuts, and a challenging holiday season, with many companies hesitant to commit to sourcing decisions under unclear trade policies. Industry leaders call for clear, binding trade agreements that lower tariffs to stabilize the market and protect consumers from escalating costs.