News analysis

Trump's new tariffs could ruin Christmas for US shoppers

PHOTO: AP

United States President Donald Trump could end up being portrayed as The Grinch whose tariffs ruined Christmas for American consumers if he makes good on threats to slap a 10 per cent tariff on the remaining US$300 billion (S$415 billion) of goods imported from China.

Analysts say Mr Trump would be bringing the trade war to the point where it starts to hurt the US more than China, as the new tariffs earmarked for Sept 1 will hit a wide array of consumer goods, from mobile phones to apparel and toys.

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A version of this article appeared in the print edition of The Straits Times on August 12, 2019, with the headline 'Trump's new tariffs could ruin Christmas for US shoppers'. Subscribe