5 purchase recommendations before new tariffs come into force
5 purchase recommendations before new tariffs come into force
While we still have many ambiguities about the customs plans of the designated President Donald Trump, one thing is pretty certain: the tariffs will increase. If the story teaches us something, it probably also means that prices will go up.
planned customs increases
Trump already announced that on the day of his inauguration he has a new flat-rate customs from 25% Mexico and Canada as well as an additional inch of 10% to Chinese imports.
On the election campaign tour, he even promised to charge a custom of 60% to all shops from China and a inch of 10% to 20% on goods from other countries.
These tariffs have the potential to significantly increase the prices for consumers to
Maybe ask yourself, especially in view of the Black friday and cyber Monday, whether there can be purchases that you can do now To save money. The answer is - but reserved with some. tariffs are a tax on imports. Governments often raise them to protect national security, support the domestic economy and generate income. However, they can be expensive for consumers, since companies often pass on the higher costs to their customers. A study by the Peterson Institute for International Economics shows that a typical budget in the United States could pay more than $ 2,600 a year if a flat-rate customs of 20% are introduced to all imports and an inch of 60% on imports from China. An example are avocados: in 2022, 90% of the avocados consumed were imported in the USA, with 89% of Mexico. A 25%customs on Mexican imports would mean that their already expensive guacamole and avocado toast dishes will become even more expensive. The purchase in advance has its own risks. You can only buy a certain amount of avocados before spoiling. Whether Trump will change his attitude to the tariffs remains open. It is also uncertain how long the future tariffs will apply and whether Time duty tariffs, or whether the new tariffs are gradually introduced instead of once. Scott Lincicome, Vice President of Economics and Trade at the Libertary Cato Institute, noted that many products may not become more expensive. In addition, hamsters can actually lead to higher prices and empty shelves in times of crisis, as we experienced during pandemic. In other words, every money spent on hamster purchases is not available for other expenses. Here are five products that could probably become more expensive if Trump introduces new tariffs and which makes it useful to buy before he took office: One inch of 10% to all imports and an additional inch of 60% to imports from China would increase the price of average household appliances by 19.4% if retailers pass the additional costs completely to consumers. A simple refrigerator model would, for example, increase from around $ 650 to $ 776. Many consumer electronics, which are excluded from current tariffs, are likely to be recorded by new general tariffs, according to Ed Brzytwa, Vice President for International Trade of Consumer Technology Association. A flat rate of 10% plus the additional 60% on Chinese goods could lead to an increase of 45% of consumer prices for laptops and tablets-that would be an average of $ 357 for laptops and $ 201 for tablets. The price for a new game console could increase by almost 40% due to the 10% customs on all imports and the additional 60% of Chinese goods, which would mean an increase of $ 246. China is the main supplier of consoles and makes 87% of US video game consoles in last year. According to the CTA report, the price of a new smartphone could increase by 26% to $ 213. These prices could increase even further if a 25%flat -rate customs are introduced to imports from Canada and Mexico. Similar to consoles, very few smartphones are made in the USA. A product that is likely to be more expensive with regard to the tariffs under Trump are e-bikes, says Lincicome. Since most e-bikes that are sold in the USA come from China and are already subject to tariffs, consumers could be particularly affected here. early purchases for cost savings
What are tariffs?
Risks of hamster purchase
five products that could become more expensive
1. Large devices
2. Laptops and tablets
3. Video game consoles
4. Smartphones
5. E-bikes
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