AFP
Americans must assume the increase in the price of multiple products, impacted by the tariffs imposed by the administration of President Donald Trump.
Donald Trump, president of the United States. (Free Press Photo: AFP)
The tariff war promoted by the administration of President Donald Trump will impact the cost of production of various articles, whose increase will be transferred to the final consumer in the United States.
The price of multiple products will be affected by the tariffs applied by said administration, since many companies will transfer the increase in the cost of production to the final consumer in that country.
Economics experts consider that Trump promoted measures configure a new economic dynamic based on protectionism. Although its objective is to promote local production, they are also making key products more expensive for US consumers.
This Monday, March 7, some of the main managers of large capitalization companies that are quoted on Wall Street, such as Jamie Dimon (JP Morgan) and Elon Musk (Tesla), as well as billionaire investors, have requested caution in recent days, while Trump government tariffs cause falls in global stock markets.
Next, the main products and sectors most affected in the US are detailed by Trump’s tariffs:
1. Technological and electronic products
- Apple devices: Tariffs on components made in China, Vietnam and India have increased Apple’s production costs. It is estimated that the price of an iPhone could increase up to 43%, while iPads and MacBooks could be increased by 42%and 39%, respectively, according to chain sour projections.
2. Cars and auto parts
- Imported vehicles: The United States has imposed a 25% tariff on imported cars, which directly affects foreign manufacturers and raises prices for US consumers.
3. Agricultural and food products
- Fruits, vegetables and dairy: Products from Mexico and Canada, such as fruits, vegetables and dairy, are subject to additional tariffs announced last week, which could increase their prices in the US market.
- Olive oil and Spanish wines: According to chain projections, Spain exports agri -food products to the US for 3.5 billion euros, including olive oil and wines, which face tariffs of 20%, which affects its competitiveness in that market.
4. Construction materials
- Canadian wood: Tariffs of up to 27% on wood imported from Canada could make derived products more to hygienic paper, which in turn would generate problems in the supply chain.
5. Aeronautical sector
- Aircraft pieces: The new Trump tariffs affect the competitiveness and operations of companies in regions such as Teruel, Spain, which export pieces of aircraft to the United States.