Latest US tariffs will hit US$45 billion in cell phones

Business | 2 Aug 2019 9:13 pm

The new US tariffs will affect roughly US$45 billion in cell phones, US$39 billion in tablets and laptops, and US$5.4 billion in video game consoles, the Hinrich Foundation estimates. 

US consumers are likely to feel the pinch of these tariffs more so than previous rounds, although the 10 percent level is considerably less than the 25 percent being applied to the earlier tranches.

Ordinary US consumers have not yet been able to “connect the dots” between the tariffs and higher costs eating into their household budgets.  Will this new round of tariffs change that, and if so, will it translate to political pressure to bring the trade war to a halt? the think tank ponders.

 

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