US' latest tariffs on Chinese goods threaten to raise prices for millions of American consumers, hitting everything from microwaves to Barbie dolls, according to a report in Financial Times on April 12.

The tariffs will directly impact 75 percent of dolls, tricycles, and scooters imported from China, along with 90 percent of electric fans and microwaves sold in the US Mattel, maker of Barbie and Hot Wheels, warned of impending price hikes, with 40 percent of its products still made in China. Even staying cool this summer could cost more — 40 percent of US air conditioning units and nearly all imported fans are made in China.

These tariffs "are hitting more consumer goods, faster, and at higher rates than before," said Chad Bown of the Peterson Institute. With China dominating global exports of affected goods, alternatives are scarce. Former UK trade official Allie Renison warned that even goods assembled elsewhere often rely on Chinese components, complicating decoupling efforts.

As Trump leaves the door open for corporate exemptions, shoppers face a grim reality: higher prices or even discontinued products if importers can't absorb costs. For now, China's manufacturing grip remains unshaken — and American wallets are paying the price, said the report.