President Donald Trump proposed tariffs of $300 billion on Chinese goods, which include laptops, computers, and tablets. Intel, HP, Microsoft,
The four companies have issued joint statements regarding the ill-effects of imposing these tariffs on Chinese goods. This move would be detrimental for the customers as well as the industry, driving sales down significantly especially during back-to-school and holiday season. Price-sensitive shoppers will be most seriously impacted and will force people to opt for laptops instead.
The Consumer Technology Association suggested that the prices of laptops and tablets could increase by almost 19% once these tariffs are put into place. A series of public hearings started on June 17 and will continue till June 25.
The companies claimed to have spent $35 billion together on R&D in 2017 alone, and say that imposing these tariffs will hurt innovation and make the jobs of many American workers redundant. Manufacturers who aren’t dependent on sales in the US will not be affected in any way.