On July 6, 2018, in retaliation of unfair Chinese business practices, President Donald Trump announced a 10 percent tariff on $200 billion worth of Chinese imports and planned to increase the tariffs to 25 percent by the beginning of the year. China retaliated immediately and placed tariffs on $60 billion worth of U.S. products.
The consumer technology industry gasped as this knife came down onto its chest. Simply put, tariffs are taxes, and they are a tax on Americans that risk the more than 2 million homegrown jobs supported by tech trade with China, according Marketplace. More than 5,000 products hit with tariffs are components behind every day tech devices, including switches, routers, modems and printed circuit assemblies. Hardware startups and tech businesses of every size worried these tariffs would mean higher prices for networking equipment, which serve as the digital infrastructure behind computer systems.