Trump’s New Tariffs Could Drive Up the Prices of Cameras and Lenses
President Donald Trump made waves last week when he announced new tariffs on Chinese goods via Twitter.
“Our representatives have just returned from China where they had constructive talks having to do with a future Trade Deal…Trade talks are continuing.”
Trump goes on to explain that “the US will start, on September 1st, putting a small additional Tariff of 10% on the remaining 300 Billion Dollars of goods and products coming from China into our Country.”
…during the talks the U.S. will start, on September 1st, putting a small additional Tariff of 10% on the remaining 300 Billion Dollars of goods and products coming from China into our Country. This does not include the 250 Billion Dollars already Tariffed at 25%…
— Donald J. Trump (@realDonaldTrump) 1 August 2019
In other words, certain goods will be taxed before arriving in the US.
For photographers, this is an especially painful blow.
Up to this point, photography equipment had largely managed to avoid any import taxes. But the new 10% tariff will be largely levied on electronics, including computers, phones, and camera gear. And it may cause serious consequences for American consumers of photo equipment.
You see, prices of camera products exist in a delicate balance. When the cost to import the gear goes up, prices go up with it, in order to offset the cost paid by resellers. This cost is often felt by consumers.
While companies like Canon, Nikon, and Sony are based in Japan, a significant number of their imaging products are made in China. It’s these products that will be hit by the tariffs, and it’s these products consumers should be worried about.
Trump does promise that his administration will work toward a trade deal with China. However, you should note that these new tariffs follow on the heels of previous tariffs, which left camera gear largely untouched. If the trend continues, things are likely to get worse before they get better.
Of course, this news is only relevant to American readers. Prices in countries other than the US will remain unaffected. But for photography-lovers in America, you may want to purchase any China-made camera gear now, while you can still get it for cheap.
President Trump’s tweet indicates that the new tariffs will come into effect on September 1st.
So pretty soon, prices will be on the rise.
What do you think about the tariffs? Will they stop you buying new camera gear? Let me know in the comments!