Since the tariffs went into effect at the end of September, handbags, perfumes, wallets, hats and fur coats are among the 5,700 items from China that have been subject to a 10% tariff -- along with gifts for the sports enthusiasts in your life, including ski mittens, bikes, baseball gloves and golf bags. Cashmere imported for sweaters doesn't escape the tax either.

Fortunately for this year's shoppers, prices likely won't be going up yet. American importers pay the duty, and most items on the floor for Black Friday were already priced before the tariffs kicked in, said Rick Helfenbein, president of the American Apparel and Footwear Association.

"Shoppers may be pardoned this Thanksgiving season, but they'll be paying more come spring," he added.

Next year could be very different if Trump and Chinese President Xi Jinping fail to come to a trade agreement before the end of the year, when Trump says he'll escalate the 10% tariffs to 25%.

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The Trump administration has also made it a priority to aggressively go after China for engaging in intellectual property theft and forced technology transfers. Before imposing the tariffs on $200 billion of goods in September, Trump put taxes on $50 billion of Chinese goods -- but those earlier rounds did not include many consumer goods.

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Trump has also suggested he could move ahead with with imposing another round of tariffs on an additional $267 billion in goods if no agreement can be reached, effectively covering all Chinese exports to the United States...

"It's almost like this year and next year are two different worlds," [Helfenbein] said.