There's one thing about tariffs that might seriously affect consumers, a chief investment officer at BNY warns
Update: 2025-11-01
Description
November 1st marked a significant shift in online shopping for Americans, as the de minimis loophole closed, leading to increased import taxes on all packages, regardless of value. This change, aimed at tightening trade rules, is now impacting regular consumers, making previously hidden costs more apparent at checkout. Sinead Colton Grant, chief investment officer at BNY Wealth, explains that while the policy change is connected to efforts to boost domestic buying and level the playing field for American businesses, it's personal spending habits that could see a shift. As shoppers adapt to higher online prices, particularly for international purchases, the impact on consumer spending growth remains to be seen.
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