Trump's next round of tariffs on China will hit things like diapers, strollers, infant formula, and children's products in general.

To alleviate concerns, Mnuchin says he’s talked to Walmart.

The U.S. recently raised the tariffs it had applied to roughly $200 billion of Chinese goods to 25% from 10% and has proposed a 25% tariff on the remaining $300 billion of Chinese goods not yet subject to those levies.

Responding to Rep. Ben McAdams, a Utah Democrat who pointed out that his state leads the nation in children per household, Mnuchin replied that he’s talked on the phone with Walmart’s — Brett Biggs, though Mnuchin didn’t name him — to find out what things the company can source from other areas and what they can’t.

“We haven’t made any decisions yet but we will be especially sensitive to the consumer items,” Mnuchin said. The Treasury secretary said there will an exclusion process if there are any additional tariffs and said a decision on those additional tariffs will be made in 30 to 45 days.

Weakening Yuan

Image placeholder title

From the February 2018 low until May of 2019, the Yuan fell 9.6% vs the US dollar. That mitigated much of Trump's 10% tariffs on Chinese goods.

The next 25% will be much more painful, and it will fall directly on US consumers with lower-income groups suffering the most pain.

Not to Worry

Trump loves collecting big tariffs.​


Image placeholder title

Tax Hike on the Poor

Note that Big Tariffs Equate to Largest Tax Increase Since 1993

Rare Earths

China produces 80% of the world's rare earth elements. They are used in weapons, cell phones, hybrid cars, and magnets.

And as Trump ponders still more tariffs, in retaliatory trade hardball, China Threatens to Cut Off US Supply of Rare Earth Elements.

Who Will Win the Trade War?

So, Who Will Win the Trade War?

Some say China, others say Trump.

Steve Bannon, former White House chief strategist, says the result will be win-win.

The correct answer is nobody, click for discussion.

Mike "Mish" Shedlock

Lagarde Warns of Emerging Market and Low-Income Shocks by Trade War With China

IMF chief Christine Lagarde warns of emerging market and low-income shocks if Trump escalates his trade war with China.

More Tariffs on China: 1,300 Product Categories

Trump is stepping up his attack on China. Us consumers and businesses will pay the price.

Trump Meets Austria's Anti-Immigration Chancellor Sebastian Kurz

Earlier today President Trump met with Austria's right-wing chancellor to discuss trade, immigration, and auto tariffs.

More Tariff Madness: Trump Targets Steel, Aluminum

Trump administration ponders a global tariff of at least 24% in a mad effort reduce the trade deficit and save jobs.

How to Not Sell Cars: More Steel Tariffs Coming Up

It is extremely foolish to think steel tariffs will increase employment or reduce the deficit. But here we go anyway.

Walmart to Use Blockchain to Track Lettuce

Walmart will require lettuce and spinach suppliers to contribute to a blockchain database to pinpoint contamination.

Walmart Seeks to Buy Humana: Good Idea? Walmart the Godsend?

Walmart is in negotiation with Humana. There is a range of options, including a direct buyout.

Trump Says Consumers Can "Very Easily" Take a 10% Tariff Hit on Goods from China

Farm bankruptcies are on the rise and Apple is struggling with falling sales but more tariffs are coming says Trump.

Tariff Scorecard: 57 Companies Bitch About Trump's Tariffs, 7 Give Positive View

89% of companies taking a stand on Trump's tariffs are complaining. Consumers are taking it on the chin as well.