To Insulate Yourself From The Trade War, Stop Buying New Stuff

by MR Magazine Staff

A new round of U.S. tariffs on Chinese-made goods went into effect on Sept. 1. It remains to be seen how much and how soon retailers will pass on the 15% tariff on goods like Apple Watches, sneakers, and furniture to customers. But according to analysis by economists Kirill Borusyak from University College London and Xavier Jaravel from the London School of Economics, the costs of U.S. president Donald Trump’s ongoing trade war with China are starting to add up in a way that most consumers will notice. The New York Times reports that Borusyak and Jaravel estimate that the tariffs will cost the average U.S. household $460 by the end of the year. Some of that cost may be unavoidable, but you can insulate yourself by choosing what not to buy. There’s a growing awareness that our insatiable demand for stuff, whether that’s fast fashion, children’s toys, or new furniture, is fueling an environmental nightmare. All that stuff stresses us out and demands our mental and physical energy, too. Read more at Quartz.