According to a report by CNBC on May 16, despite the Trump administration's trade truce agreement with China that paused some high tariffs, the multi-layered tariff accumulation has caused the actual tax rate on many Chinese imports to far exceed 30%. CNBC reports that the actual tax rates on basic consumer goods, including clothing, footwear, and children's backpacks, have reached 40%-70%, with women's swimwear facing a tariff of 54.9% and children's leather sports shoes taxed at 40%. Walmart's CFO has warned that prices for food, toys, and electronics will rise within a month. Many small businesses are being forced to cut product lines, lay off employees, and raise prices to cope with cash flow pressures, while industry experts are calling for bipartisan tariff reform to alleviate the burden on American families and businesses.