Trump’s Next Round of Proposed Tariff Hikes Could Make Laptops, Tablets Costlier for US Consumers
US President Donald Trump may be all set to meet his Chinese counterpart Xi Jinping at the G20 summit next week to resume trade talks, but the threat of tariff hikes still loom in the markets. On Wednesday, leading tech companies Dell, HP, Microsoft and Intel voiced their opposition to Trump’s proposal to add laptops, computers and tablets to the next list of Chinese goods targeted for hiked tariffs.
Dell, HP and Microsoft account for more than half of the laptops and detachable tablets sold in the US. According to them, if Trump goes ahead with his proposed tariff hikes on these products, it would force them to increase the costs of these devices, making them more expensive to American consumers. If the new tariffs get enforced, prices of tablets and laptops could go up by at least 19% in the US on average.
In a joint statement shared online by the four tech companies, they stated that hiking tariffs would only end up hurting the consumers and the industry, but would fail to check China’s trade practices the US wishes to rectify.
The USTR has initiated seven days of testimony from US companies across retail, manufacturing and other businesses to examine the potential business impact of Trump’s next round of proposed tariffs on $300 billion worth of Chinese imports.
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