433
submitted 4 days ago by MicroWave@lemmy.world to c/news@lemmy.world

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.

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[-] PortoPeople@lemm.ee 136 points 4 days ago
[-] MumboJumbo@lemmy.world 73 points 4 days ago

Man, even the Trump "I did this" stickers will be too expensive

[-] wagesj45@fedia.io 24 points 4 days ago

Better stock up now.

[-] Bob_Robertson_IX@lemmy.world 19 points 4 days ago

I've been considering ordering a bunch of these.

[-] MumboJumbo@lemmy.world 9 points 4 days ago

Ah man, and I like red hats. Not MAGA, but just a nice fitted red hat. Another reason to not like the cult of 45.

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[-] seang96@spgrn.com 20 points 4 days ago* (last edited 4 days ago)

Nah man its at most gonna go up 12%!

- My Trump supporting uncle after he survived a 12 foot head first fall and changed to extreme opposite personality

[-] KickMeElmo@sopuli.xyz 33 points 4 days ago

At least brain damage is an understandable reason for voting Trump. What's everyone else's excuse?

[-] YtA4QCam2A9j7EfTgHrH@infosec.pub 23 points 4 days ago

For boomers it is lead poisoning from gasoline.

[-] sp3tr4l@lemmy.zip 14 points 4 days ago

Also lead in home paint.

It's (at least part of) where the 'paint chip eater' meme/joke of boomers comes from.

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[-] selokichtli@lemmy.ml 41 points 3 days ago

Could? They will, honestly.

[-] hydrospanner@lemmy.world 25 points 3 days ago

They absolutely will.

Either directly, because those goods are now more expensive to Best Buy and they're not about to eat that, so it'll get pissed directly on to the consumer (with a mark-up)...

...or indirectly, when any one or more of the corporate entities involved in the domestic supply chain sees that domestic goods are now cheaper than imports for the consumer, which means that they now have an opportunity to simply raise their prices to match and pocket the difference.

Nevermind that domestic supply chains often have roots in China anyway, so it's not like the domestic electronics are going to be able to hold price either, since their imported components will still be getting hit with the tariff.

My favorite part of this aspect of it in particular is that while electronics are no doubt ubiquitous, most electronics purchases are more discretionary. It's not like a car where if yours dies you are definitely buying another one. Most times, people are getting a phone because a new model came out, or they decided theirs was too slow. They're getting a new TV because they want to upgrade or found a good deal.

So when these tariffs hit and prices lurch up, expect sales to plummet as people decide they can keep going with their current electronics just a bit longer.

So congratulations, domestic beneficiaries of an electronics tariff, any profit increase you might have gained will now be more than gutted by the nosedive in overall sales!

[-] pivot_root@lemmy.world 74 points 4 days ago
  1. Prices go up.
  2. People stop spending money.
  3. Revenue loss for companies.
  4. Mass layoffs.
  5. Job security concerns.
  6. People stop spending money.
  7. Go to (3)

Which part of that cycle was supposed to fix the cost of living problems again? Last I checked, those tariffs aren't going towards universal basic income or social services.

[-] Maggoty@lemmy.world 32 points 4 days ago

The part where the monopolies buy up even more of the economy and we all get issued life subscription plans because they can cover everything from our housing to our groceries to our jobs. Don't worry, your WaLife Plan^tm is tailored to be affordable for your Cashier position.

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[-] Monstrosity@lemm.ee 12 points 3 days ago

Don't forget to throw mass Federal layoffs into the mix.

[-] Joeffect@lemmy.world 14 points 4 days ago

Everything he's planning is going to have negative effects on the economy...

Deport every? No one to work the jobs most refuse to do... Means food, housing, and other shortages which makes prices go up.

Tariffs? Make everything cost more and force companies to charge consumers.

Reduce education standards? Keep everyone dumb so they vote for us!!!!

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[-] Cheems@lemmy.world 4 points 3 days ago
  1. Democrats get elected next major election
  2. Start fixing the problem
  3. People get frustrated with how long it takes
  4. Things start getting better as Republicans get voted in again
  5. Republicans take credit
  6. Republicans start ruining things again
  7. Republicans blame socialism
  8. Go back to 1
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[-] Cephalotrocity@biglemmowski.win 67 points 4 days ago

Amazing how they didn't say shit until after the election. Almost like they want to have their cake and eat it too.

[-] hark@lemmy.world 38 points 4 days ago

It WILL raise prices and it will raise prices by more than whatever percentage the tariffs are set at because as we all saw from the recent greedflation, businesses will use any excuse to raise prices as much as possible, particularly in industries dominated by an oligopoly (which is most of them).

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[-] inclementimmigrant@lemmy.world 17 points 3 days ago* (last edited 3 days ago)

Yup and now even just that 25%/60%/+10% either.

https://nebula.tv/videos/legaleagle-trumps-tariffs-are-taxes-on-us-consumers/

Also remember that when Trump did the washing machine tariffs, not only did eating machine prices go up, dryer prices also went up because capitalism never misses an opportunity to fuck the consumer over.

[-] jj4211@lemmy.world 7 points 3 days ago

not only did eating machine prices go up

I am an eating machine.

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[-] Nusm@yall.theatl.social 40 points 4 days ago* (last edited 4 days ago)

Read all about it in this month’s issue of Duh.

[-] juice702@lemmy.world 20 points 3 days ago

Honestly, bring on the bullshit. I’m so sick of these maga idiots so I can’t wait to see how this will affect them and what they voted for.

[-] TexMexBazooka@lemm.ee 27 points 3 days ago

They will learn nothing because they are incapable of understanding

[-] Dead_or_Alive@lemmy.world 11 points 3 days ago

No, they will learn nothing because Fox News, X and right wing propaganda they listen to is very effective at shifting blame or brushing problems under the rug.

If we want to change their minds we need to pierce their information bubble that insulates them from their decisions.

[-] lightnsfw@reddthat.com 15 points 3 days ago

Trump will pass the blame on and they will listen to him and this will affect the non-maga people too.

[-] Treczoks@lemmy.world 20 points 3 days ago

Basically every shop will have to raise prices then. Even a farm shop selling only their own produce, as their own production costs will definitely rise.

[-] FlyingSquid@lemmy.world 25 points 4 days ago

Best Buy still has customers?

[-] IDKWhatUsernametoPutHereLolol@lemmy.dbzer0.com 38 points 4 days ago* (last edited 4 days ago)

I mean yea.

I wouldn't trust a phone bought on Amazon.

Buying on official manufacturers website take a few days to arrive.

If someone, say broke their phone, they might need their new phone immediately.

Also, shipping stuff can get stolen in transit, or on the doorsteps.

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[-] empireOfLove2@lemmy.dbzer0.com 29 points 4 days ago

It's unironically a really good place to buy consumer electronics, both online and in person. They're still holding on, they've crawled out of the hole they put themselves in a decade ago.

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[-] Montagge@lemmy.zip 12 points 4 days ago

I still go to Best Buy for stuff sometimes!

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[-] Spacehooks@reddthat.com 14 points 3 days ago

Just in time for black friday! Get your goods now before the 200% tariff come in!

[-] Magister@lemmy.world 21 points 4 days ago

Imagine cars coming from Canada and Mexico, 25% more expensive, lol

[-] tunetardis@lemmy.ca 27 points 4 days ago

Oh it'll be a shit show, don't worry. Imagine a car sold in the US that's assembled in Mexico using parts manufactured in the US from metals mined in Canada, along with electronics from China. And that's all within a single company's supply chain. There will be tariffs on top of tariffs in the auto sector.

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[-] IDKWhatUsernametoPutHereLolol@lemmy.dbzer0.com 20 points 4 days ago* (last edited 4 days ago)

We are now in the "Find Out" stage of FAFO

Edit: Also, maybe the silver-lining of the tariff is people keeping their phone longer and not buy a new one every year.

[-] sp3tr4l@lemmy.zip 18 points 4 days ago

I can only hope this also kills the 'i am a youtuber/influencer, buy my astoundingly overpriced merch' business.

New MrBeast video: "I Got Hunted By Border Patrol" or "First to smuggle my merch across the border wins $1,000,000"

[-] JusticeForPorygon@lemmy.world 15 points 4 days ago

Thank you bestbuy for making this statement after the election.

Not that it would've made any difference. I'm disgusted with my country.

[-] rumba@lemmy.zip 11 points 4 days ago

Trump said himself that prices were going to go way up. There's not anybody else out there that would have made a difference. When these idiots can't afford to go to McDonald's anymore, and they find they can't get on disability they're going to change their tune far too late.

[-] andrewta@lemmy.world 12 points 4 days ago

No they will just blame everyone else. They will never learn.

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[-] wagesj45@fedia.io 12 points 4 days ago

"Could"

Goddamn it I'm sick and tired of these articles pussyfooting around the issue.

[-] Embargo@lemm.ee 12 points 4 days ago

Hahahaha fucking no shit. The tariffs will force everything up. The U.S. economy is going to get thoroughly fisted.

[-] SeaJ@lemm.ee 11 points 4 days ago

Could??? Stop pussyfooting around and tell us that it will indeed cause you to raise prices.

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this post was submitted on 26 Nov 2024
433 points (99.1% liked)

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