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.

  • jj4211@lemmy.world
    2·
    25 days ago

    If it still doesn’t work, the government will certainly allow immigrants to enter legally for those jobs.

    In such a case, they’d be receptive to something like DACA, which was very surgically set to grant legal status to the “obviously useful” immigrants.

    But no, the same administration that demands mass deportation will let industries burn to the ground before they ramp up legal immigration.

    But you are right that the other side of the argument “but we need labor without protections to make stuff cheap!” doesn’t sound particularly good.