Last Updated on 04/20/2018 by Mark Beckenbach
China-made computer monitors, batteries, and printer ink and cartridges will get about 23% more expensive if the proposed tariff for tech imports from the country pushes through
Are you a photographer looking into upgrading your computer monitor, or running a studio that also accepts orders for photo prints? You most likely have cause for concern over the proposed $50 to $60 billion tariffs President Trump is eyeing to slap on Chinese tech imports. These products include TVs, computer monitors, batteries, and printer ink and cartridges, which are just some of the China-made tech goods whose prices will increase with the proposed tariffs.
An industry study commissioned by the Consumer Technology Association (CTA) and National Retail Federation (NRF) revealed that the proposed tariffs on the China-made goods would cost US consumers an estimated $711 million in the coming year. The computer monitor you’re eyeing will cost you an extra 23.5% if it’s a China import, but even overall monitor prices will go up by 2.8%. Batteries will also be 23.8% more expensive, and overall consumer prices will go up by 0.8%. As for inks and cartridges for printers imported from China, they will incur a 22.7% increase, and the consumer prices will jump to 4.1%.
To put these figures in greater perspective, a USA Today report also cited that the US imports 83% of its computer monitors and 34% of its lithium batteries from China. Along with the printer inks and cartridges, there are over 1,300 China-made tech products on the Trump administration’s list of items to get up to 25% in tariffs.
The price increase calculated by consulting firm Trade Partnership Worldwide in the study is substantially higher than the 10% to 15% increase initially estimated by analysts and economists. As CTA CEO an president Gary Shapiro concluded, “These proposed tariffs are bad for the economy, businesses and American consumers.”
So, maybe put off upgrading your computer monitor in the studio if you can, or just be prepared to go above your budget.