O’Leary Ventures Chairman Kevin O’Leary explains how the US can fix trade and economic problems with China “once once” in “Editing the Evening.”
American consumers are noticing a new line of shopping receipts: tariff surcharges. Even if President Donald Trump suspends 90 days on tariffs, businesses and customers are feeling the impact of importing products, particularly from China.
Additional charges have appeared in several industries, affecting almost everything from clothing prices to car manufacturing. Some companies charge flat rates, while others charge a percentage of the total cost of a particular purchase.
US President Donald Trump will attend a bilateral meeting with Chinese President Xi Jinping during the G20 Leader Summit held in Osaka, Japan on June 29, 2019. (Reuters/Kevin Lamarck/File Photo/Reuters)
Trump’s tariffs: What tariffs were imposed on major trading partners, or have they been suspended?
Alexandra Fine, CEO and co-founder of sexual wellness company Dame, spoke to the Wall Street Journal (WSJ) about her company’s recent $5 “Trump Tariff Surcharge” add-on.
“It doesn’t cover the full cost, but it’s not close, but it made me feel better than pretending everything was going well,” Fine told WSJ. She said the additional charges are about “statements” and that it means “to let customers know how these policies affect us all.”
The company manufactures products in China. This has been hit by 145% import tariffs amid growing trade tensions between Trump and Chinese President Xi Jinping.
The app store Amazon can be seen in this illustrated photo taken in Poland on June 29, 2024. (Jakub Porzycki/Nurphoto via Getty Images)
Kevin O’Leary supports Trump’s tariffs to stop China from “killing small businesses in America.”
Amazon CEO Andy Jassy recently told CNBC that he thinks manufacturers will “pass that cost” to customers rather than try to absorb it. Many of the company’s third-party sellers account for 60% of the products sold on Amazon – based in China, facing the toughest of Trump’s tariffs.
Due to customs duties, wedding dresses are also increasing prices. Paul Biliri, co-owner of Yang’s boutique in New Jersey, told CBS News that prices for Chinese gowns have also risen.
“We hope that China-US relations will be fixed and resolved and that this dress will continue to be sold at the marked price,” Virilli told CBS News. The outlet noted that most of his gowns come from China and Vietnam.
President Donald Trump will ask questions from media members during a meeting with Israeli Prime Minister Benjamin Netanyahu at the White House Oval Office on April 7, 2025. (Kevin Dietsch / Getty Images / Getty Images)
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On Friday, White House spokesman Caroline Leavitt said Trump was “optimistic” about dealing with China over tariffs. Currently, Beijing has an 84% tariff on American imports.
“The president has made it very clear that he is accepting business with China,” Leavitt said. She also said that Trump “will be graceful if China intends to do business with the US.”
