"Tariffs are often touted as a protective measure for domestic industries," explains David Fritch, a registered investment advisor and CPA with over four decades of experience. "But the reality is that ramping up local production capacity can take considerable time." Even when goods are not wholly made externally, tariffs also increase the cost of resources for businesses, both big and small. While Trump guarantees that tariffs will be paid by the companies exporting their goods, that's not the case. Ultimately, it's the company and consumers importing goods; tariffs cause businesses to "reassess their supply chain strategies," Fritch says, "and even forcing some to pass costs onto consumers."
"With President-elect Donald Trump preparing for his presidency, he promised to slap tariffs on goods from the leading U.S. trade partners on day one. This would range from 10% on goods from China to 25% from Canada and Mexico. Trump has touted this move as a way to negotiate with these countries over several policies, mainly cracking down on drug production and illegal migrants entering the country, as well as protecting domestic jobs and industries."
"So, which items will immediately face tariffs, and which could be vulnerable to potential tariffs should Trump launch a global trade war? Electronics: From Playstations to iPhones. It's no secret that our gadgets are global jet-setters before they even hit the shelves. PlayStations are born from the minds of Sony in Japan, though they are assembled partly in China."
Collection
[
|
...
]