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Depending on who takes over the White House next month, it could worsen for consumers.
Tariffs are essentially taxes on trade, and businesses will likely pass those costs on to consumers.
This could drive inflation, making everything from electronics to clothing more expensive.
Here are three clothing brands that would get more expensiveif Trump wins the election.
The company is headquartered in the United States butmanufactures mainly in China.
Their consumers are also accustomed to price drops due to competition fromfast fashion companiesabroad, he continued.
For instance, our boys lines, currently priced at $40, could rise to $48.
Although Paraggio doesnt source anything from China, the proposed tariffs could threaten her business and many others.
The economy could slow down asconsumers and businessesadjust to these higher costs, Schmied said.
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