China tariff 'stacking' pushes true cost of import taxes well above 30% on many consumer products
"Multiple layers of tariffs are a big problem for basic items like kids backpacks that come largely from China," said Dan Anthony, president at Trade Partnership Worldwide. "You're talking about rates of over 70%," he said.
That includes the layering of existing 17.6% tariffs and Section 301 tariffs (related to unfair trade practices) of 25%, with the 30% in tariffs on Chinese goods not included in the pause — 20% fentanyl-related tariffs and 10% reciprocal tariffs.
That stacking of tariffs pushes the true cost for many other retail goods much higher than 30%, including:
- Cotton sweaters from China face a 46.5% tariff (16.5% most favored nation plus the fentanyl and reciprocal tariffs).
- Women's bathing suits from China face a tariff of 54.9% (24.9% most favored nation plus the fentanyl and reciprocal tariffs).
- Baby's dresses from China face a tariff of 41.5% (11.5% most favored nation plus the fentanyl and reciprocal tariffs).
