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Laptop Prices Will Jump 19% Due to Tariffs, Report Claims
A new report commissioned by The Consumer Technology Association, a consumer trade organization, states that the Trump administration’s proposed tariffs on imported goods from China would raise the U.S. price of laptops and tablets by 19%. Cnet first reported on the study.
According to the report, United States-based customers can expect about a $120 increase on a laptop priced at the national average - currently, $622. As a result, the report suggests, consumers will be forced to reduce their overall purchases of laptops and tablets by 35%.
This is compounded by the fact that China currently accounts for over 90% of the imports of laptops and tablets into the United States. Corporations such as Microsoft and Apple face steep costs in shifting production to other countries, according to the report. It questions whether it is possible to completely move manufacturing elsewhere, given China’s output is 35 times greater than its closest competitor.
President Donald Trump has proposed tariffs of up to 25% on consumer goods imported from China in an ongoing trade war that will also affect cell phones, video game consoles and toy drones. According to the report, which was released on Monday, the consumer electronics market may face climbing prices. The U.S. price of cell phones would rise 14%, while prices for video game consoles would also increase 19%. Additionally, the price of drones would jump 15%. If the tariffs go into effect, the surge in pricing looks to leave both consumers and manufacturers with a serious case of sticker shock.
The Consumer Technology Association represents the U.S. consumer electronics industry with more than 2,200 members.
