Trade wars

5 U.S. industries hit hardest by Trump's latest China tariffs


More than $100 billion of about $300 billion in new U.S. tariffs on Chinese imports took effect this week, with the rest due to hit in December. By year's end, nearly every good imported from China will be taxed by the U.S. government — about $550 billion worth of total goods — paid for by the companies in America that import them.

This latest round of tariffs, which started September 1, is the first to directly cover many consumer goods, hitting middle-class staples like food, apparel, footwear and consumer electronics. How and when these import taxes will be felt isn't yet clear, although more than 150 trade groups sent a letter to President Donald Trump last week pleading for postponements in a last-ditch effort to halt them.

But U.S. companies already are cutting costs, putting off investments and paying extra to build up inventory to help cushion the impact of China tariffs. Some companies are postponing decisions like building factories, Deutsche Bank analysts said in a report last week. A recent Goldman Sachs survey found companies are "rerouting supply chains and relocating production to mitigate exposure to the trade war," moves that can take years to pull off.