Donald Trump's 10% Additional Tariffs On Chinese Imports Could Cost Billions

Forbes

President Donald Trump’s 10% additional tariffs on Chinese imports went into effect Tuesday, threatening to make several key categories of goods more expensive from the hundreds of billions of dollars worth of Chinese products brought into the U.S. every year.  Read the full story on Forbes: https://www.forbes.com/sites/dereksaul/2025/02/04/china-tariffs-heres-what-may-cost-more-in-the-us/  Subscribe to FORBES: https://www.youtube.com/user/Forbes?sub_confirmation=1  Fuel your success with Forbes. Gain unlimited access to premium journalism, including breaking news, groundbreaking in-depth reported stories, daily digests and more. Plus, members get a front-row seat at members-only events with leading thinkers and doers, access to premium video that can help you get ahead, an ad-light experience, early access to select products including NFT drops and more:  https://account.forbes.com/membership/?utm_source=youtube&utm_medium=display&utm_campaign=growth_non-sub_paid_subscribe_ytdescript  Stay Connected Forbes newsletters: https://newsletters.editorial.forbes.com Forbes on Facebook: http://fb.com/forbes Forbes Video on Twitter: http://www.twitter.com/forbes Forbes Video on Instagram: http://instagram.com/forbes More From Forbes:  http://forbes.com  Forbes covers the intersection of entrepreneurship, wealth, technology, business and lifestyle with a focus on people and success.

Transcript

00:00President Donald Trump's 10% additional tariffs on Chinese imports went into effect Tuesday,

00:06threatening to make several key categories of goods more expensive.

00:10The U.S. imported $426.9 billion worth of Chinese goods in 2023 and $401.8

00:19billion in 2024's first 11 months, according to the U.S. Census Bureau.

00:24That means the 10% levy on Chinese goods threatens to pass on around $40 billion

00:31in additional costs to American consumers this year, assuming imports stay relatively flat

00:37and consumers ultimately bear the brunt of the tariffs via higher sticker price,

00:42as many experts predict.

00:45China is the manufacturing capital of the world and accounts for 13.5% of all U.S. imports,

00:52and computer and electronic products are by far the largest category of Chinese imports,

00:57accounting for 30% of all Chinese goods entering the U.S., according to Apollo Global Management.

01:04China's Ministry of Commerce said Tuesday it firmly opposes the U.S. tariffs

01:08and struck back with its own 15% levies on American coal and liquefied natural gas

01:14and 10% levies on American crude oil, agricultural equipment,

01:19and some large trucks set to go into effect Monday.

01:23The $55 billion in smartphones and other telephone products imported from China in 2023

01:30will likely weigh on smartphone prices stateside, while the $6.8 billion imported from monitors,

01:37$40 billion on automatic data processors, including barcode scanners, $6.4 billion on

01:43space and water heaters, and the more than $2.5 billion a piece on air conditioners plus

01:49refrigerators and freezers may hit other electronic and appliance products.

01:55For more on this story, check out Derek Saul's article linked in the description.

02:13you

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