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Tonight, china saying they are not afraid of a fight. but american consumers could pay the price. a higher one in fact on some very common items. here s abc s chief business correspondent rebecca jarvis tonight. reporter: tonight, the cost of those tariffs set to take effect next month, and china promising to retaliate. smartphones, furniture, toys, and clothes coming from china to the u.s. subject to a new 10% tax, paid to u.s. customs by u.s. businesses when the goods enter our country. while most companies believe something should be done to level the playing field, many warning customers will bear the burden. footwear officially one of the hardest hit categories, with 70% of all shoes sold in the u.s. coming from china. $150 running sneakers could spike to nearly $190. iphones manufactured in china could see prices rise $100 if apple decides to pass the cost to consumers. ....
I m sue herrera with your cnbc mark wrap. here s a look how stocks are doing so far today. the dow jones industrial average is up about 16 points. the standard & poors up almost 3 and the nasdaq composite up about 12.33. winter storms and rising gas prices have yet to dampen retail sales. new numbers out today show clothing sales rose 6%, furniture sales rose 4%, the fourth consecutive monthly increase for hard hit categories during the recession. ford is recalling 35,000 pickup trucks and crossover vehicles in the u.s. and canadian citing possible fuel leaks and electrical shorts. that s it from cnbc s headquarters. martin, back to you. and now to a segment we re calling america the beautiful. a place where we explore the iconic people, places and things that make this country so unique in the world. and los angeles county health officials have made a very dirty ....