BREAKING NEWS : Man in critical condition after shooting in Fort Wayne Full Story

How Black Friday shopping could change if Trump's trade war goes on

Next year's Black Friday deals are at stake in President Donald Trump's trade war with China.In fact, Americans starting their holiday shopping this w...

Posted: Nov 23, 2018 6:48 AM

Next year's Black Friday deals are at stake in President Donald Trump's trade war with China.

In fact, Americans starting their holiday shopping this week are likely to be picking up some items that are already subject to Trump's tariffs.

Since the tariffs went into effect at the end of September, handbags, perfumes, wallets, hats and fur coats are among the 5,700 items from China that have been subject to a 10% tariff -- along with gifts for the sports enthusiasts in your life, including ski mittens, bikes, baseball gloves and golf bags. Cashmere imported for sweaters doesn't escape the tax either.

Fortunately for this year's shoppers, prices likely won't be going up yet. American importers pay the duty, and most items on the floor for Black Friday were already priced before the tariffs kicked in, said Rick Helfenbein, president of the American Apparel and Footwear Association.

"Shoppers may be pardoned this Thanksgiving season, but they'll be paying more come spring," he added.

Next year could be very different if Trump and Chinese President Xi Jinping fail to come to a trade agreement before the end of the year, when Trump says he'll escalate the 10% tariffs to 25%.

"Once you get to that 25% mark, that's when you're going to see more price increases for the end consumer," said Christopher Shaker, a consumer products analyst and partner at RSM, an audit, tax and consulting firm for middle market companies.

Big box retailers Walmart and Target have already warned that the tariffs could lead to higher prices.

Trump is scheduled to meet with Xi next week on the sidelines of the G20 summit in Argentina to discuss trade.

But an agreement is far from certain. Earlier this week, Chinese negotiators canceled preliminary meetings with their US counterparts ahead of the summit. On Tuesday, US Trade Representative Robert Lighthizer ramped up the pressure on China even further by releasing an updated report showing Beijing has done little to fix its unfair practices.

The Trump administration has also made it a priority to aggressively go after China for engaging in intellectual property theft and forced technology transfers. Before imposing the tariffs on $200 billion of goods in September, Trump put taxes on $50 billion of Chinese goods -- but those earlier rounds did not include many consumer goods.

China has retaliated with tariffs on $110 billion in US products and is likely to respond with more if the United States goes ahead with the increase in January.

American businesses and lawmakers on both sides of the aisle agree the China trade issues should be addressed -- but not everyone believes that tariffs are the right way. Some manufacturers and retailers say the duties could lead to job losses and higher prices for consumers.

Trump has also suggested he could move ahead with with imposing another round of tariffs on an additional $267 billion in goods if no agreement can be reached, effectively covering all Chinese exports to the United States.

The move would tax even more consumer goods that come from China, including televisions, Apple watches, Air Pods, and Fitbits.

So far, a relatively small amount of apparel goods from China have been hit with tariffs, but a new tranche would be significant. In total, the United States receives 41% of its apparel imports from China, 80% of accessories, and 73% of footwear, said Helfenbein.

"It's almost like this year and next year are two different worlds," he said.

Indiana Coronavirus Cases

Data is updated nightly.

Confirmed Cases: 76522

Reported Deaths: 3086
CountyConfirmedDeaths
Marion16194731
Lake7742281
Elkhart495586
Allen4040163
St. Joseph361083
Hamilton2887104
Vanderburgh205313
Hendricks1943108
Cass18069
Johnson1794119
Porter136239
Clark130750
Tippecanoe124511
Madison103066
LaPorte93530
Howard92065
Kosciusko87212
Floyd82249
Bartholomew82147
Marshall79423
Monroe76732
Delaware76052
Vigo71411
Dubois71312
Boone69746
Noble69029
Hancock68839
Jackson5975
Warrick58830
Shelby56828
LaGrange56610
Grant53130
Dearborn51628
Morgan48934
Clinton4504
Henry41820
Wayne38810
White37711
Montgomery36021
Lawrence35727
Harrison35224
Decatur34232
Putnam3218
Daviess27920
Miami2772
Scott27310
Jasper2572
Greene25434
Franklin24715
DeKalb2384
Gibson2334
Jennings22812
Steuben2153
Ripley2138
Carroll2003
Fayette1957
Perry18713
Posey1800
Starke1807
Orange17824
Wells1782
Fulton1732
Wabash1715
Jefferson1662
Knox1640
Whitley1566
Tipton14912
Washington1441
Sullivan1411
Spencer1393
Clay1315
Huntington1273
Randolph1274
Newton12110
Adams1172
Owen1051
Jay920
Rush894
Pulaski821
Fountain762
Brown752
Blackford662
Ohio656
Benton640
Pike620
Vermillion590
Parke551
Switzerland530
Martin500
Crawford450
Union410
Warren241
Unassigned0208

Ohio Coronavirus Cases

Data is updated nightly.

Confirmed Cases: 104248

Reported Deaths: 3734
CountyConfirmedDeaths
Franklin18965531
Cuyahoga13869512
Hamilton9844259
Lucas5512326
Montgomery448998
Summit3667224
Butler303364
Marion294245
Mahoning2623256
Pickaway240042
Stark1904142
Warren185039
Lorain183177
Columbiana168360
Trumbull1563110
Fairfield143232
Delaware136519
Licking134551
Clark121315
Lake114642
Wood109058
Clermont96211
Medina95936
Miami86839
Tuscarawas79714
Allen79446
Portage77664
Greene73012
Mercer64113
Belmont62726
Richland61912
Erie61028
Ashtabula57746
Geauga56144
Wayne55459
Ross5094
Madison50310
Darke41429
Huron4115
Ottawa40426
Sandusky39917
Hancock3973
Athens3612
Holmes3316
Lawrence3180
Auglaize2756
Union2731
Scioto2591
Muskingum2481
Jefferson2403
Seneca2344
Shelby2154
Knox2147
Preble2122
Putnam21217
Washington21122
Coshocton1967
Champaign1882
Morrow1792
Crawford1775
Hardin17512
Clinton1716
Highland1692
Logan1672
Ashland1553
Fulton1551
Defiance1544
Wyandot1519
Brown1502
Perry1483
Williams1373
Fayette1240
Henry1222
Hocking1229
Guernsey1197
Carroll1135
Monroe9418
Pike800
Jackson770
Gallia741
Van Wert732
Paulding700
Adams642
Meigs580
Vinton322
Morgan300
Harrison261
Noble170
Unassigned00
Fort Wayne
Clear
68° wxIcon
Hi: 85° Lo: 60°
Feels Like: 68°
Angola
Clear
64° wxIcon
Hi: 84° Lo: 61°
Feels Like: 64°
Huntington
Scattered Clouds
65° wxIcon
Hi: 84° Lo: 59°
Feels Like: 65°
Decatur
Clear
68° wxIcon
Hi: 84° Lo: 60°
Feels Like: 68°
Van Wert
Clear
68° wxIcon
Hi: 85° Lo: 60°
Feels Like: 68°
Storm Chances Friday
WFFT Radar
WFFT Temperatures
WFFT National

Community Events