Why Your Next Bicycle Might Cost More! 🚲💰
Hey kids and teens! Have you ever saved up to buy a new bicycle? Imagine if that bike suddenly cost more money! 😱 Let’s find out why that might happen.
Recently, many U.S. companies are thinking about raising their prices. Why? Because of something called tariffs. But what are tariffs?
Tariffs are like extra taxes that governments put on products coming from other countries. When the government charges more money for these products, it can make them more expensive in stores.
For example, if a bicycle shop buys bikes from another country, and tariffs are added, the shop has to pay more for those bikes. To keep making money, they might have to raise the price when they sell the bike to you.
According to a survey by a company called Allianz, over half of U.S. companies say they might have to raise prices because of tariffs. That includes bicycle dealers! 🚲
But not all companies are raising prices. Home Depot, a big home improvement store, says it plans to keep most of its prices the same. That’s good news for people shopping there!
If you’re planning to buy a new bike or other items, you might notice some price changes. Now you know it’s because of tariffs. Always remember, understanding how things work can help us make better choices! 😊
Reference(s):
cgtn.com
