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Trump Tariffs Increase Back-to-School Prices, Warns Gov. Whitmer
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The Battle Creek Buzz
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Trump Tariffs Increase Back-to-School Prices, Warns Gov. Whitmer
Trump Tariffs Drive Up Back-to-School Costs, Warns Gov. Whitmer |
Michigan Families Face Higher Prices on Essential School Supplies Amid New Trade Policies |
Michigan parents gearing up for the new school year are bracing for increased expenses on essential items like backpacks and shoes, a consequence of President Donald Trump's recent tariffs.
Governor Gretchen Whitmer has expressed concern that these trade policies are making it more challenging for families to afford necessary school supplies.
Major retailers, including Walmart, Target, Best Buy, Amazon, and Costco, have announced price hikes attributed to the tariffs, further straining household budgets.
According to a recent survey, 39% of parents reported being unable to afford back-to-school shopping this year, up from 34% in 2024.
Items such as shoes, water bottles, clothes, pencils, juice boxes, and laptops are seeing price increases, complicating efforts for parents and educators to equip children for academic success.
President Trump's tariffs, intended to reshape America's role in the global trade system, have led to fluctuating policies, including the imposition and suspension of tariffs on countries like Mexico and Canada.
In April, a 10% global reciprocal tariff was placed on imports, with higher rates for specific nations.
While some trading partners have engaged in negotiations due to these tariffs, the inconsistent approach has raised concerns among economists and business owners.
Starting August 1, tariffs ranging from 15% to 50% are set to be levied against goods from numerous countries.
President Trump has acknowledged potential short-term "pain" resulting from these measures.
A survey by the Atlanta Federal Reserve suggests that companies may pass half of their tariff costs onto U.S. consumers through higher prices.
Walmart's CEO, Douglas McMillon, attributed recent price increases to the tariffs, particularly on Chinese goods.
The retailer, a popular destination for back-to-school shopping, anticipates further price hikes in the coming months.
In response to reports of Walmart's price increases, President Trump suggested that the retailer should absorb the tariff costs rather than passing them onto customers.
Beyond retail price hikes, the full impact of tariffs on schools is still unfolding.
Some education leaders have expressed concerns about rising technology costs and increased quotes for school construction projects.
For instance, Midland Public Schools faced a significant increase in laptop prices, leading officials to delay replacing aging devices.
Governor Whitmer highlighted a report from the Consumer Technology Association, which found that tariffs could increase laptop and tablet prices by 46% to 68%.
As Michigan families prepare for the upcoming school year, the financial strain from these tariffs underscores the broader economic challenges posed by current trade policies. |
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