The Trump administration’s proposed 25 percent tariff on $300 billion in goods imported from China would increase the prices Americans pay for cell phones, laptops, tablets and video game consoles, according to a new study commissioned by the Consumer Technology Association (CTA). If the list 4 tariffs take effect, Americans will pay between $50 and $120 more apiece for many of their favorite technology products.
“Tariffs are taxes, paid by American consumers – and these new tariffs would be a burden on American families just as they start back-to-school shopping,” said Gary Shapiro, president and CEO, CTA. “U.S. consumers, not China, pay the price for tariffs – what more proof does the White House need? It’s time for this administration to put American small businesses, workers and families first and make a deal with China.”
Key findings include:
- The cost of cell phones imported from China would increase by 22 percent, and the average cell phone will cost $70 more for U.S. consumers
- The cost of laptops imported from China would increase by 21 percent, and the average laptop will cost $120 more for U.S. consumers
- The cost of tablets imported from China would increase by 21 percent, and the average tablet will cost about $50 more for U.S. consumers
- The cost of video game consoles imported from China would increase by 21 percent, and the average video game console will cost about $56 more for U.S. consumers
The list 4 tariffs also include connected consumers devices that were not on previous tariff lists, such as fitness activity trackers, smartwatches and wireless earbuds,. U.S. consumers would pay over 6 percent more for these products, if the tariffs take effect. In addition, the new tariffs would cost more than 2 million U.S. jobs, add more than $2,000 in costs for the average American family of four and reduce the value of U.S. GDP by 1 percent.
The full study can be found here and CTA’s comments to USTR on list 4 can be found here.
