GREENSBORO, N.C. — You've heard about the tariff battle with China, but have you seen evidence of it? A News 2 viewer has.
Check out the RTIC Coolers website. One cooler we found was cooler $215, but when you go to check out and the taxes and delivery are applied to the price you'll also find this tariff surcharge. For this product it's almost $11.
When you click on the question mark, it pops up and explains. So are you about to see this on all your purchases soon? 2WTK talked to Dr. Jeff Sarbaum of the UNCG Department of Economics.
"I don't think you'll necessarily see more line items that say tariff charge, but I think you'll see a steady increase in prices." Sarbaum adds many businesses will absorb price increases for a time, but at some point, they'll have to pass it on to you and me.
Nearly 70% of stuff we buy is expected to be impacted. Think about whatever price you pay for whatever it is and add 25%.
As for why this company decided to put the surcharge so you could see it?Sarbaum says it could be a way of showing you the business isn't raising prices on you or it could be "there is a political connection to make consumers aware that these tariffs and policy protections don't come free."