If you’re involved in the gaming industry, have a passion for luxury vehicles and timepieces, or require hospital treatment, President Donald Trump’s international trade battles might impact your wallet.
At 78 years of age, the Republican leader expanded tariffs to numerous additional countries on Saturday, including a 10 percent tax on exports from an isolated island inhabited solely by penguins and seals.
There might be a strategic rationale behind initiating a global trade war, with Trump aiming for equitable trade conditions as many nations impose higher taxes on US exports compared to other countries. Nonetheless, the situation raises concerns for ordinary Americans.
Trump’s strategy involves using tariff pressure to lower trade barriers on US products, while also encouraging domestic production to significantly boost the American economy.
However, as the US anticipates these benefits, it must also prepare for retaliatory tariffs, which could result in increased costs for consumers.
Let’s delve into the specific items whose shipping to the US has been halted due to the trade conflict.
Enthusiasts eagerly awaiting the Nintendo Switch 2 might face delays for its scheduled release on June 5, as pre-orders for US customers have been suspended.
In a statement to The Verge on behalf of Nintendo, Eddie Garcia noted: “Pre-orders for Nintendo Switch 2 in the U.S. will not start April 9, 2025, in order to assess the potential impact of tariffs and evolving market conditions. Nintendo will update timing at a later date. The launch date of June 5, 2025 is unchanged.”
The United States represents the largest market for luxury Swiss watches, including brands like Rolex, TAG Heuer, Armin Strom, Breitling, and Audemars Piguet.
Rolex, along with the latter two brands, has withheld stock initially intended for shipment to the US.
Erik Boneta, owner of the luxury watch trading company Boneta Inc., shared with the New York Post: “All the major brands have held shipping.
“They’re waiting to see what happens with the [31 percent] tariffs. If they do take effect, I think that everyone, from manufacturers to consumers, will either eat a little bit of the cost or pay a little bit more.”
A representative for Jaguar Land Rover (JLR), the parent company of Jaguar, Land Rover, and Range Rover, issued this statement to Sky News: “The USA is an important market for JLR’s luxury brands.
“As we work to address the new trading terms with our business partners, we are taking some short-term actions including a shipment pause in April, as we develop our mid- to longer-term plans.”
Following an additional 54 percent tariff imposed on Chinese imports to the US, China retaliated by introducing a 34 percent tariff on American products, prompting Trump to threaten another 50 percent tariff on Chinese goods.
This back-and-forth tariff exchange between the two countries could escalate, with China now ‘investigating’ X-ray tubes imported for use in CT scans, potentially affecting medical screenings in the US.
China has also pledged to restrict exports of up to seven rare earth minerals, essential for high-tech products such as Tesla car electronics.
Parents, particularly those familiar with Tonka trucks, might be aware that these toys are manufactured in China. With over one million sold annually in the US, the trade conflict could make these beloved children’s toys even pricier.