President Trump announced steep new tariffs, set to begin on April 5, affecting trade partners like China, the EU, and several Asian nations. Tariff rates will vary, with Vietnam facing a 46% increase, while Cambodia and Laos top the list at 49% and 48% respectively. This move could significantly impact major tech companies that rely on manufacturing in these regions, as rising costs may lead to higher consumer prices and dampened demand within the U.S. market, risking a slowdown in tech consumption overall.
"Companies will pass on costs to US buyers, squeezing household budgets and cooling demand. The obvious risk is a slowdown in consumption that could rip through the tech industry."
"I guess the logic is 'make it too expensive for smartphone OEMs to produce overseas, and they'll eventually shift to the US,' says Neil Shah, VP of Research at Counterpoint Research.
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