How the Latest 10% Tariffs Could Affect You as a Consumer

While it may seem like politics has no place in the creative electronics world, this latest news from the government will directly impact consumers like you. President Donald Trump announced on Thursday (Aug. 1) that he would impose an additional 10 percent tariff on Chinese goods starting in September 2019. The announcement comes right after trade talks with the People’s Republic evidently didn’t push through. 

When implemented, this new policy is expected to put a tax on all Chinese goods entering the United States, which could immensely affect retailers and consumers. So, how do you prepare for this? How will it affect consumers?

The new planned tariffs have caused the retailers to start worrying about the consequences, while retail companies are left with a choice of either embracing the new tariffs or pressing them on their customers.

Following Trump’s announcement, China instructed the possibility of forcing counter-tariffs on goods from the U.S., which would slap the American exporters. The additional 10% tariff is likely to affect consumer-related products such as laptops, mobile phones, and toys, which will hurting U.S. consumers more in comparison to China’s.

Companies will be forced to ship their goods early before the new tariff takes place in September, despite this costing them more in shipping fees.Toy companies envision to raise as high as 10% on their toy products, but are aware that the demand will go down as not all consumers can afford the prices.

With the likelihood of seriously impacting the U.S. inflation and pulling profitability of bigger multinational companies, the results of the new 10% tariffs will be significant in the everyday lives of price-conscious consumers. 

Therefore, with Trump’s firm tariffs plan fast approaching, now is a better time than ever to purchase all of your photography, pro audio and musical equipment needs. Shop our site to save the most on consumer electronic goods and be sure to stay tuned for more consumer and product updates.