Tariffs have been the main focus of the second term of President Trump. While how they will affect the nation remains to be seen, it surely isn’t looking good for tech consumer electronics. It may negatively impact the consumer electronics market, and your next purchase may get costlier by as much as 10%.
Tariffs potential impact
Ever since Donald Trump took over as the President of the United States, he has been focusing a lot on the tariff laws. The administration first announced a slew of new reciprocal tariffs for the nations worldwide. It is currently engaging with the other nations over trade talks and related discussions.
Almost negligible countries are going to see rates below 10% under Trump. Some countries have been hit with a 20% tariff, while others are facing tariff notices as high as 50%. The average rate announced by the US to other nations is 20%, which is no less. And because of the Trump tariffs, the consumer electronics market will see a price hike in the future.
Trump Tariffs to Increase Consumer Electronics Prices by 10%
As per the report released by The Taiwan Economic Daily, the prices of consumer electronic goods such as phones, PCs, and even televisions will increase by as much as 10%. This price increase is a result of President Trump’s current tariff laws. It may change slightly in the future if the administration, by any chance, decides to have a relook at them.
To escape the tariff for a limited time, brands have stored a large volume of their products in the inventory in advance. Apple had recently flown millions of units of the iPhone from India to the US. But this won’t work for long, and be ready to pay more for your next consumer electronic purchase.
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