The U.S. has announced new tariffs on $18 billion worth of Chinese imports, significantly impacting the global supply chain and raising costs for consumer electronics.

Key highlights include:

• Electric Vehicles (EVs): 102.5% tariff rate.
• Solar Cells: 50% tariff rate.
• Chips (Semiconductors): 50% tariff rate.
• Lithium-Ion Batteries: 25% tariff rate, phased in over several years.
• Steel & Aluminum: 25% tariff rate.

These tariffs are expected to drive up prices for consumers and businesses, particularly in the tech industry, as costs for assembly, labor, and raw materials soar. Long-term effects may disrupt the global electronics supply chain, with unavoidable consequences for industries like consumer electronics, automotive, and appliances.

How IVP-Inc can help:

IVP-Inc specializes in global supply chain solutions. We use our network of purchasing offices across three continents to mitigate cost increases, ensuring you secure competitive pricing and maintain business continuity amidst fluctuating trade policies.

Read the original article here: https://www.forbes.com/sites/tiriasresearch/2024/05/28/new-china-tariffs-will-raise-the-prices-of-consumer-electronics/