Trump’s tariffs mean you’ll pay more for all gadgets
1 min read
Summary
The new trade tariffs imposed by the US on China and other countries will push up prices for electronic devices such as smartphones and laptops, but the increases will not occur immediately as many manufacturers have built up inventory in anticipation of the tariffs.
Goods shipped from China to the US will face a 54% tariff, while Vietnam, where some Apple products are made, is also set to be hit by a 46% tariff; both countries are among the largest suppliers of electronic components.
Some categories, such as OTC hearing aids, will be more affected than others, with costs predicted to rise by between 25% and 50%.
Despite the tariffs, it is thought that companies will continue to manufacture goods in China and other affected countries as it is still cheaper to do so than to manufacture products in the US, where the necessary skills and infrastructure have largely been lost.