If a full-blown, tit-for-tat U.S.-China trade war erupts, a slew of consumer goods could be subject to as much as 25 percent in tax. On the hit list: imported, Chinese-made vaping devices.
That could have far-reaching consequences for the vaporizer industry, as well as the booming cannabis industry, which has been growing like a weed, so to speak.
Currently, nine states plus the District of Columbia allow recreational marijuana use, and 30 states and D.C. permit some form of medical marijuana, which is used to treat cancer patients and those with chronic pain or PTSD, among other ailments. More states are likely to follow suit.
As a result, legal sales of marijuana are projected to jump to more than $20 billion by 2022, from approximately $10 billion in 2018, according to Marijuana Business Daily. Estimates from an Ackrell Capital research report show even greater growth (see chart below).