WASHINGTON – American consumers could lose between $46 billion and $78 billion in purchasing power each year if new tariffs on imports to the United States are implemented, according to a new study released by the National Retail Federation (NRF) before Tuesday’s elections.

The study, titled “Estimated Impacts of Proposed Tariffs on Imports: Apparel, Toys, Furniture, Household Appliances, Footwear and Travel Goods,” examines how newly elected President Donald Trump’s tariff proposals were discussed during the campaign – a universal tariff of 10 to 20% on imports. from all foreign countries and an additional tariff of 60 to 100 percent on imports specifically from China – would impact six categories of consumer products. Categories included in the study include clothing, toys, furniture, appliances, shoes and travel items.

“Retailers rely heavily on imported products and manufacturing components in order to be able to offer their customers a variety of products at affordable prices,” said Jonathan GoldNRF Vice President of Supply Chain and Customs Policy. “A tariff is a tax paid by the U.S. importer, not by a foreign country or the exporter. This tax ends up being paid by consumers in the form of higher prices.”

Although some U.S. manufacturers may benefit from the tariffs, the NRF said the gains to U.S. producers and the Treasury from tariff revenues “do not outweigh the overall losses to consumers.” According to the NRF, after the pricing example, the price of a $50 pair of sneakers would increase to $59-64 and a $2,000 mattress and box spring set would end up costing between $2,128 and $2,190. .

Other key findings from the study include:

• The proposed tariffs on the six product categories would reduce the purchasing power of U.S. consumers by $46 billion to $78 billion each year while the tariffs are in place.
• The proposed tariffs would have a “significant and detrimental impact” on the costs of a wide range of consumer products sold in the United States, particularly on products for which China is the primary supplier.
• The increased costs resulting from the proposed tariffs would be “too great for U.S. retailers to absorb” and would “result in higher prices than many consumers would be willing or able to pay.”
• Consumers would pay between $13.9 billion and $24 billion more for clothing; $8.8 billion to $14.2 billion more for toys; $8.5 billion to $13.1 billion more for furniture; $6.4 billion to $10.9 billion more for household appliances; $6.4 billion to $10.7 billion more for shoes; and $2.2 billion to $3.9 billion more for travel goods.
• Based on current trade, average tariff rates for all categories examined would exceed 50 percent in the extreme tariff scenario, in most cases ranging from single to double digits.

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