The Trump Tariff: How Much Will it Cost You?

150 words explaining why everything will cost you more with a tariff

Image created in Gemini by the author

This week, Donald Trump announced he’s going to impose a 100, 200, 2,000 percent tariff on products imported into the U.S.

If Trump becomes president again, here’s how much a 100% tariff would increase the cost of your next smartphone:

1. U.S. Smartphone seller contracts with Chinese supplier (most smartphones are manufactured in China) to buy phones at $500 each.
2. Seller calculates the price for each phone at $500 plus $750 for marketing, distribution, and profit. Total so far: $1,250.
3. Supplier ships phones to the U.S.
4. At the border, U.S. Customs and Border Protection charges seller the $500 tariff for each phone. YES, THE SELLER PAYS THE TARIFF; NOT THE FOREIGN GOVERNMENT.
5. Seller adds $500 to the $1,250 price.
6. You pay $1,750 for your new smartphone.

So, $1,750 with the Trump tariffs, or $1,250 without. On November 5, voting day, you get to choose which price you want to pay.

‘Trump’s tariff proposals will be the nuclear option in international trade