For instance, a laptop currently priced at $793 would cost consumers an additional $357.
Premium models could see even greater increases, adding $450 for every $1,000 of current pricing.
Game consoles, which are primarily made in China, could experience a substantial 39.9 percent jump.
The overall cost of electronics could increase by $90 billion annually, causing sales to fall undoubtedly.
The proposed tariffs could have far-reaching effects beyond higher consumer prices.
Most experts will tell you that shifting production away from China is neither simple nor quick for manufacturers.
It’s important to note that Trump could impose these tariffs with little resistance, even if Congress objected.
Unlike many other economic policies, a US president can implement tariffs without requiring congressional approval.
Trump’s stance on tariffs may also be a political tactic.
Tough trade talk resonates with certain voter groups who feel that current trade policies have hurt American workers.
It’s also possible that Trump intends to impose tariffs but at lower rates than currently proposed.
By citing extreme measures like 50 percent tariffs, smaller tariffs may seem more reasonable by comparison.
