Article snippet: MORE's latest threat to impose additional tariffs on China poses a risky downside as he heads into a contentious reelection campaign. The 10 percent tariff on $300 billion in Chinese imports is slated to go into effect Sept. 1, and it will cover an array of consumer goods such as clothing and electronics that were not previously subject to import taxes. That means people could start noticing higher back-to-school shopping bills and price increases on popular electronic devices such as iPhones. While consumers have largely been insulated from the harm of Trump’s trade war, the new tariffs could put a dent in household budgets as businesses pass on costs to their customers. The tariffs would come just as data earlier in the day showed 164,000 jobs added in July, keeping unemployment at a low level of 3.7 percent, a nearly 50-year low. Meanwhile, consumer spending soared 4.3 percent higher in the second quarter, reflecting ample household confidence in the economy. Trump is leaning on the strong economy to clinch another presidential term, but that could change if Trump’s new tariffs end up having dire implications for the economy, experts warn. “Raising tariffs by 10 percent on an additional $300 billion worth of imports from China will only inflict greater pain on American businesses, farmers, workers and consumers, and undermine an otherwise strong U.S. economy,” said Myron Brilliant of the U.S. Chamber of Commerce, the country’s largest business group, which has... Link to the full article to read more