What will cost you more if Trump places a 10% tariff on all Chinese goods
CNN
Need a new computer, television or phone? You might want to consider getting one now.
Need a new computer, television or phone? You might want to consider getting one now. That’s because President Donald Trump said on Tuesday that a new 10% across-the-board tariff on Chinese goods could be enacted as soon as February 1. Unlike Mexico and Canada, which largely avoid tariffs on exports to the United States because of the current USMCA trade agreement which Trump signed in his first term, a wide array of Chinese goods currently face tariffs. (Trump also threatened 25% tariffs on Mexican and Canadian goods come February 1). Chinese goods are currently subject to a 100% tariff on electric vehicles and 25% tariff on steel and aluminum products. But several items have been exempt from tariffs. One of the biggest exemptions: consumer electronics. But if Trump proceeds with a 10% blanket tariff on Chinese goods that would no longer be the case. That matters because consumer electronics are among the top goods the US imported from China last year, according to federal trade data.
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