As tensions between the United States and China reach an impasse over trade, Apollo Global Management’s chief economist Torsten Slok is warning that American consumers could soon feel the sting, especially in areas where alternatives to Chinese imports are scarce.

How a 145% tariff on China, which makes all the world's fireworks, will affect pyrotechnic displays this summer and beyond.

Duties on China surged to 145% just as fireworks companies were getting their final July Fourth shipments from the country, which makes the vast majority of supplies used in the U.S.