Consumers could face higher prices for electronics if President-elect Donal Trump hits Canada, Mexico and China with new tariffs, Best Buy CEO said.
Summary
Best Buy warned that Trump’s proposed tariffs on imports from China, Mexico, and Canada could raise prices on consumer electronics, as 60% of Best Buy’s inventory comes from China.
Trump plans to impose a baseline 10% tariff on all imports and a 60% tariff on Chinese goods to boost domestic manufacturing.
Retailers like Best Buy and industry groups like the Consumer Technology Association are preparing for supply chain disruptions by importing goods early or sourcing alternatives to avoid higher consumer prices.
Which part of that cycle was supposed to fix the cost of living problems again? Last I checked, those tariffs aren't going towards universal basic income or social services.
It WILL raise prices and it will raise prices by more than whatever percentage the tariffs are set at because as we all saw from the recent greedflation, businesses will use any excuse to raise prices as much as possible, particularly in industries dominated by an oligopoly (which is most of them).
Basically every shop will have to raise prices then. Even a farm shop selling only their own produce, as their own production costs will definitely rise.
Also remember that when Trump did the washing machine tariffs, not only did eating machine prices go up, dryer prices also went up because capitalism never misses an opportunity to fuck the consumer over.
I bet you that the Right is going to performatively do to a few companies the kind of "don't you dare raise prices" bullying that the Democrats should have been doing when inflation had started spiking. And it's going to go down in history that the Right held corporations to account.