Donald Trump’s China tariffs could increase TV and battery prices by 23 per cent, study finds
Computer monitors and printer ink and cartridges could also go up; an expert said that shifting manufacturing to low-cost countries such as Vietnam and Thailand may not work in the short term because they don’t have enough capacity
American shoppers would pay about 23 per cent more for TVs, computer monitors, batteries and printer ink and cartridges made in China if US President Donald Trump follows through on tariffs he has threatened to impose on a broad range of technology imports from there, a US industry study has found.
That increase is substantially more than the 10 per cent to 15 per cent price increase previously estimated by analysts and economists. It was calculated by Trade Partnership Worldwide, a consulting firm, for the Consumer Technology Association (CTA) and the National Retail Federation (NRF).
What’s more, prices of all TVs would rise by 4 per cent as retailers spread their added costs to other models, the study says.
“These proposed tariffs are bad for businesses, American consumers and the economy,” said Gary Shapiro, chief executive officer of the CTA.
Said Matthew Shay, his counterpart at the NRF, “China’s unfair trade practises must be addressed, but as this study shows, tariffs aren’t the answer and will punish US consumers in the form of higher prices.”
