ARLINGTON, Va .– (BUSINESS WIRE) –The Trump administration's proposed 25% tariff on $ 300 billions of goods imported from China would increase the prices new study commissioned by the Consumer Technology Association (CTA). If the list 4 tariffs take effect, Americans will pay between $ 50 and $ 120
"Tariffs are taxes, paid by American consumers and these new tariffs would be a burden on American families as they start back to school shopping," said Gary Shapiro, president and CEO, CTA. "US consumers, not China, pay the price for tariffs - what more proof does the White House need? It's small business, workers and families make and deal with China. "
Key findings includes:
- The cost of cell phones imported from China would increase by 22%, and the average cell phone will cost $ 70 more for US consumers
- The cost of laptops imported from China would increase by 21%, and the average laptop will cost $ 120 more for US consumers
- The cost of tablets imported from China would increase by $ 21 more for US consumers
- Video game consoles imported from China would increase by $ 21 more for US consumers
The list 4 tariffs also includes connected consumers that were not on previous tariff lists, such as fitness activity trackers, smartwatches and wireless earbuds ,. US consumers would pay over 6% more for these products, if the tariffs take effect. In addition, the new tariffs would cost more than 2 million US jobs, add more than $ 2,000 in the average US dollar by 1%.
About Consumer Technology Association:
Consumer Technology Association (CTA)TM is the trade association representing the $ 398 billion US consumer technology industry, which supports more than 18 million US jobs. More than 2,200 companies - 80 percent are small businesses and startups; others are the world's best-known brands - enjoy the benefits of CTA membership including policy advocacy, market research, technical education, industry promotion, standards development and the fostering of business and strategic relationships. CTA also owns and produces CES® - the world gathering place for all who is interested in consumer technologies. Profits from CES are reinvested into CTA's industry services.
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