The U.S. "stacked tariffs" on China have pushed actual tax rates on various consumer goods as high as 70%

TechFlow news, May 16 — According to CNBC, despite the Trump administration's trade truce with China that paused some high tariffs, multiple layers of tariffs have caused the effective tax rates on many Chinese imports to far exceed 30%. Basic consumer goods such as clothing, footwear, and children's backpacks now face effective tariff rates of 40%–70%, with women's swimwear subject to a 54.9% tariff and children's leather athletic shoes facing a 40% rate. Walmart's CFO has warned that prices for food, toys, and electronics will rise within a month. Numerous small businesses have been forced to cut product lines, lay off workers, and raise prices to cope with cash flow pressures. Industry experts are calling for bipartisan tariff reform to alleviate the burden on American households and businesses.