Multiple e-commerce giants including Temu and Shein have seen prices soar in the US, with a set of kitchen towels setting the outer limit with a 377% jump. On Tuesday, Amazon said it will not display the cost of US tariffs on products, after the White House blasted the reported move and US President Donald Trump called Jeff Bezos to complain.
Trump enacted levies in an attempt to force Beijing to seek a trade deal that would slash the trade deficit between the two countries, and reiterated this week that he expects China to “eat” the tariffs. While he denied there would be difficult times ahead for American shoppers, US consumer confidence dropped to a five-year low in April.
The evidence is also mounting that consumer inflation has set in and will only grow.
Bloomberg’s Peter Elstrom discusses the latest on "The Pulse with Francine Lacqua" on Bloomberg TV.
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News post in April 30, 2025, 12:07 pm.
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