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U.S. consumers to be hurt by tariffs

President Trump said Monday that China is paying the U.S. billions of dollars in tariffs as he ramps up his trade war with Beijing. American consumers and businesses are the ones who will be paying higher costs for imports.

The duties, which go into effect Sept. 24, amount to a 10 percent tax on a wide range of items.

“Every time this trade war escalates, the risk to U.S. consumers grows,” National Retail Federation President and CEO Matthew Shay said following the tariff order Monday.

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