this post was submitted on 26 Nov 2024
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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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[–] [email protected] 36 points 9 hours ago (1 children)

Could? They will, honestly.

[–] [email protected] 21 points 9 hours 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!

[–] [email protected] 15 points 9 hours ago* (last edited 9 hours ago) (1 children)

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.

[–] [email protected] 7 points 9 hours ago (2 children)

not only did eating machine prices go up

I am an eating machine.

[–] [email protected] 1 points 5 hours ago

And have you checked your value on the trafficking market lately? You're way overpriced!

[–] [email protected] 1 points 7 hours ago

Damn you autocorrect!

[–] [email protected] 19 points 13 hours ago (2 children)

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.

[–] [email protected] 14 points 9 hours ago

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

[–] [email protected] 27 points 11 hours ago

They will learn nothing because they are incapable of understanding

[–] [email protected] 2 points 8 hours ago

Fuck Best Buy and their 15 day return policy. I've been boycotting for two years now. They will file for bankruptcy, tariffs or not, before long.

[–] [email protected] 12 points 13 hours ago

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

[–] [email protected] 19 points 15 hours 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.

[–] [email protected] 37 points 18 hours 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).

[–] [email protected] 70 points 20 hours ago (5 children)
  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.

[–] [email protected] 1 points 1 hour 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
[–] [email protected] 11 points 15 hours ago

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

[–] [email protected] 31 points 19 hours ago (1 children)

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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[–] [email protected] 13 points 19 hours ago (9 children)

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!!!!

[–] [email protected] 2 points 8 hours ago

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

This one kind of makes me a bit sad about the two prevailing sentiments:

  • Heartless separation of families and forcing immigrants back into dangerous situations, frankly in the name of pursuing an ethnic purity/superiority.

  • Maintain an illegal labor class of folks constantly under threat of deportation so they have fewer rights and higher fear to exercise the rights they do have, so they can be cheap and abused labor.

The "grant these people legal standing" seems to never be a persistent stance. Closest we got was DACA, and even that was pretty limited. No one dares threaten giving the cheap labor any leverage.

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[–] [email protected] 1 points 8 hours ago

Let me use this phrase in a different context:

Honey, did you "raise prices on consumer electronics" the front door?

[–] [email protected] 134 points 23 hours ago (2 children)
[–] [email protected] 72 points 23 hours ago (2 children)

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

[–] [email protected] 19 points 21 hours ago (1 children)

I've been considering ordering a bunch of these.

[–] [email protected] 9 points 19 hours ago (1 children)

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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[–] [email protected] 23 points 22 hours ago

Better stock up now.

[–] [email protected] 20 points 22 hours ago* (last edited 22 hours ago) (1 children)

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

[–] [email protected] 33 points 22 hours ago (8 children)

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

[–] [email protected] 23 points 21 hours ago (1 children)

For boomers it is lead poisoning from gasoline.

[–] [email protected] 14 points 21 hours 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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[–] [email protected] 67 points 23 hours ago

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

[–] [email protected] 39 points 22 hours ago* (last edited 22 hours ago)

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

[–] [email protected] 18 points 21 hours ago (1 children)

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

[–] [email protected] 13 points 21 hours ago

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

[–] [email protected] 25 points 23 hours ago (12 children)

Best Buy still has customers?

[–] [email protected] 37 points 23 hours ago* (last edited 23 hours ago) (19 children)

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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[–] [email protected] 29 points 22 hours ago (1 children)

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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[–] [email protected] 20 points 23 hours ago* (last edited 23 hours 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.

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