Price increase through Trump's new tariffs - what will be more expensive?

Price increase through Trump's new tariffs - what will be more expensive?

If you think about buying a new computer, television or cell phones, the right time could now be. The reason for this is that President Donald Trump on Tuesday morning a New tariff of 10% has issued.

effects of the new tariffs on consumers and companies

Economists warn that Zölle Clear significant increase in inflation in recent years. It is the US importers who pay the tariffs, not the countries to which the tariffs relate, as Trump mistakenly claims. These costs are often on retailers and

tariff compared to other trade agreements

In contrast to Mexico and Canada, which, due to the current USMCA trade agreement, which Trump signed in his first term, are largely released from tariffs to exports to the United States, a variety of Chinese products saw itself before Tuesday Zöllen opposite. (Trump had also imposed 25 % tariffs on Mexican and Canadian goods, but exposed them until March 1st.)

influence on the electronics industry

In addition to the new 10% tariffs, Chinese goods are subject to other tariffs: a 100% tariff on electric vehicles and a 25% Tariff on steel and aluminum products. But before that, many electronic items from tariffs were excluded.

One of the greatest exceptions was the area of consumer electronics. This exception is no longer valid with the new general tariffs. This is important, since entertainment electronics were among the most frequently imported goods in the USA last year, according to the federal government's merchant data.

hidden costs for consumers

communication devices made 12 %, which is $ 47 billion, the $ 401 billion in goods that the United States imported from China last year. This makes this category an outstanding product category. (The merchant data for December will be published on Wednesday)

Communication devices include everything from mobile phones to televisions to satellites, based on the classification system that the US government uses.

With a value of $ 39 billion, the second largest category of goods that the United States imported from China last year was computer hardware. This includes tablets, laptops, monitors and essentially all components that drive you, such as semiconductor chips and network interface cards.

price increases in the shoe industry

Also expect that the prices for shoes and sneakers rise. The shoe industry is particularly susceptible to tariffs, since around 99 % of all shoes and sneakers sold in the United States are imported, mainly from China and Vietnam, according to the Footwear Distributors and Retailers of America.

"If you want to create a list of possibilities how to increase prices, this will be at the top of the list. It is completely counterproductive," said Matt Priest, President and CEO of the FDRA, in a telephone interview with CNN on Monday. "We pay the tariffs. The American consumers pay the tariffs. These are not external sources of income, but internal."

When will consumers be affected?

When will consumers get the influence of the 10%tariff to feel? The prices will probably not increase immediately for goods that come from China to the United States-the goods were stored for a while without the additional 10%tariff. But as soon as the stocks have been broken down and new Chinese products arrive, American consumers will begin to bear the costs.

A complicated factor: Some retailers could be able to absorb the higher tariffs, especially if they have created additional stocks in advance. But others may not be able to afford what could cause consumers to expect price increases in the near future.

Report by CNN employee Matt Egan.