Trade talks between the world’s top two economies have fallen through again, and the markets have already reacted strongly.

Starting in September, the trade war is going to get much hotter. While much can be said about what could, should, or would happen politically, let’s take a closer look at how this recent escalation will affect the average American consumer.

As of September 1st, a 10% tariff will be placed on the last $300 billion worth of Chinese imports into the US. This will have a direct impact on American individuals and small businesses. A study conducted by Shopkick revealed that about 60% of consumers had plans to adjust the retailers they shop at if the tariffs are here to stay. The same study also revealed that 40% of consumers say they’ve already noticed increased costs as a result of the Trump administration’s trade policies. For just a start, keep an eye on the prices of goods such as iPhones, Christmas decorations, and a very large mixed bag of products.

The first effect of this newest round of tariffs that you’ll likely feel will be getting hammered at your local retailers. American consumers are expected to feel the squeeze as increasing costs for many items will reduce the average consumer’s buying power. While it’s impossible to provide exact figures, it must be understood that a 10%-25% tariff placed on effectively all Chinese imports into the US will certainly drive costs up. The same Shopkick study found that 29% of American consumers are stocking up before the next round of tariffs takes effect, and 44% plan to change their shopping habits. One of the main intentions of the tariffs was to persuade consumers to buy more American-made products, but researchers have found that only 25% want to make that change.