You might want to start back to school shopping sooner than later because experts warn a lot of stuff is going to get more expensive.
So why will everything from clothes to toys cost more in September? One word, tariffs.
More than 40 percent of the clothes sold in the U.S. comes from China. 70 percent of shoes and 88 percent of all toys. And as a trade war rages between the U.S. and China those items have so far escaped the threat of tariffs. But experts warn come September 1st they will probably be added to the list.
Retailers say they will try to absorb some of the extra cost of importing goods but at some point, they will have to raise prices.
Economists estimate the new tariffs will cost Americans an additional $200 a year, and that's on top of the $830 the existing tariffs are already costing us.
So you might want to start saving now for this year's holiday shopping season.