Get Your Holiday Gift Shopping Done Now As Bigger Tariffs Are Set To Hike Prices On Dec. 15

Posted: Sep 1 2019, 11:14pm CDT | by , in Technology News

 

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Get your holiday gift shopping done now as bigger tariffs are set to hike prices on Dec. 15
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Consumers are already feeling the pangs of the Sino-American trade war.

If you’re thinking of buying tech devices like smartphones, smartwatches or smart home devices to gift your loved ones this Christmas, now could definitely be the right time to start buying as tech devices are expected to be priced significantly higher in the days leading up to Christmas.

It comes as the Trump administration has imposed 15% tariffs on products that are imported from China, effective September 1.

The United States and China have been in an ongoing trade battle that has caused disruptions not only in the two countries, but in worldwide markets as well.

Over the weekend, Bloomberg News reported that the U.S. has decided to slap the 15% levy on Chinese imports ranging from footwear and apparel to household goods and even technology products like the Apple Watch.

As you know, even if it’s based in the U.S., Apple manufactures the bulk of its products in China, and an additional tariff on the goods imported to the U.S. from China would mean that Apple devices like iPhones, iPads, Macbooks and Apple Watches would soon see price increases in order to make up for the loss that Apple is expected to book as a result of the added levy.

Additionally, the U.S. will again slap another 15% tariff on other China-manufactured goods such as laptops and cellphones on December 15. Apart from Apple devices, other tech device makers who hire Chinese people to manufacture their products would also be significantly hit by the escalating trade war. This could ultimately prompt companies to look for other countries with large manpower to manufacture their products.

The White House's decision could prompt American retailers like Amazon.com, Best Buy, Walmart, eBay and other online and brick-and-mortar stores to hike prices on majority — if not all — of their products.

In the meantime, as the global markets brace for an even tighter Sino-American trade relation, U.S. customers are urged to do their holiday shopping now to avoid exorbitant prices in December.

On a consumer's perspective, Christmas shopping could come earlier than usual because of the latest trade decision and shoppers could take advantage of holiday shopping events prior to Christmas, including Black Friday and Cyber Monday in order to pare costs associated with last-minute shopping in December.

This story may contain affiliate links.

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<a href="/latest_stories/all/all/81" rel="author">Mandy Jean</a>
Mandy covers the latest news in Tech and Business.

 

 

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