The largest U.S. retail trade association is highlighting how tariffs from President Trump’s trade war with China could make this year’s football season more expensive.
The National Retail Federation (NRF) says the cost of footballs, fanwear, TVs and tailgating could all increase as the year-plus trade dispute between the world’s two largest economies drags on.
{mosads}This month’s 15 percent tariff increase on Chinese imports hit apparel and sporting goods such as footballs. Tariffs on $250 billion worth of Chinese imports are scheduled to increase from 25 percent to 30 percent on Oct. 15.
“Fans are all too familiar with the penalties that can set their teams five, 10 or 15 yards back from the goal line. But as this season unfolds, they need to be aware that new U.S. tariffs ranging from 15 to 30 percent will drive up the price of everything from footballs and TVs to portable grills and fanwear,” NRF said in a statement.
The trade group noted that while thousands of footballs are produced in the U.S., the ones manufactured in China were hit with the 15 percent tariff on Sept. 1. As for clothing, NRF predicts the trade war will cost Americans an additional $4.4 billion on apparel a year.
Additionally, televisions are more expensive if hit with the 25 percent tariffs and essentials used at tailgates — including folding tables, team-branded chairs, grills, grilling equipment, and coolers — are also subject to tariffs.
Trump said last week that a deal could “happen sooner than you think” but did not offer any details on timing. Administration officials are scheduled to renew face-to-face talks with China in early October.
As the trade war creeps closer to 2020, the reelection risks for Trump are increasing. A slowing economy, combined with an unresolved trade dispute, would increase the odds of Trump losing support from farmers and those in the business community who have been urging him to strike a deal with China.