Trump's tech tariffs could slam your wallet, bigly

If Trump levels a 60 percent tariff against China, that will hurt your wallet in a big way.

- MARK HACHMAN

The Trump administration will arrive in Washington this coming January with an enormous question mark over its head: Will Trump deliver on his promise to impose tariffs of up to 60 percent, and how will that affect the technology products that Americans buy?

The short answer? No one really knows. For now, however, we have to take Trump's words at face value, even if he eventually changes his mind.

And if we do that, we can point you to where you'll be paying more. Specifically, Trump's statements indicate that two tariffs would be imposed: a flat tariff of about 10 percent on all imports, plus an additional 60 percent tariff on goods imported from China. The Consumer Technology Association has estimated that, based on current levels and patterns of trade, the effective tariff on Chinese goods will go up as high as 80.6 percent.

Major consumer organizations, though, have begun calculating what these tariffs will cost American consumers. Prior to the election, the Consumer Technology Association (CTA) said that the tariffs would raise laptop and tablet prices by 46 percent (fave.co/3Bp3J5T). On Nov. 4, the National Retail Federation (NRF) estimated that prices on household appliances would rise by 19 to 31 percent, and the price of toys would rise between 36 and 56 percent (fave.co/4fVxYAE). The Center for American Progress calculates that the average American family will pay up to $3,900 more per year across the board under the plan (fave.co/4ihLboV).

The National Retail Federation has projected two scenarios: a 10% or 20% tariff imposed on every country, and either a 70% or 120% tariff imposed on Chinese goods. The estimated effects of both are listed here.