Get your new smartphone now before tariffs impact the price

Several of President Donald Trump’s tariffs came into force Tuesday, including the latest levy on imports from China. 

Imports from China, a major producer of smartphones, their parts and other technology, were hit with another 10% tariff. That built upon a 10% levy the president already imposed on the country in early February. 

President Donald Trump signs a series of executive orders in the Oval Office at the White House on Feb. 10. (Andrew Harnik/Getty Images / Getty Images)

In addition to the new tariff on imports from China, the administration also implemented tariffs on imports from both Canada and Mexico, ending the month-long pause on those levies. 

The move has raised questions about how consumer prices for new smartphones could be affected in the short-term and the longer-term by the tariffs, particularly the levy put on imports from China. 

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Roughly 78% of the U.S.’s smartphone imports come from China, the Consumer Technology Association has said.

RKS Design founder Ravi Sawhney told FOX Business consumers are “unlikely to see a noticeable price increase” for smartphones “in the immediate term” from the tariffs, explaining that “most smartphone manufacturers plan inventory and pricing strategies months in advance, so existing stock already in the market won’t be affected.”

He added that companies “often absorb short-term cost increases rather than immediately passing them on to consumers to remain competitive.” 

Crowell Global Advisors Global Life Sciences Chair Joseph Damond offered a similar perspective on short-term smartphone prices, saying consumers may not immediately face a hike “because there will be a lag before increased tariff costs have a direct impact on production and sale of new phones, and because in the short run various parties along the production and distribution chain may be more willing to bear some reductions in their profit margins, until they see whether the tariffs will last.” 

Samsung Electronics Co. Galaxy S24 Ultra smartphones displayed at a Samsung store in Seoul, South Korea, on Friday, Oct. 4, 2024. Samsung is expected to report record-high revenue in the September quarter, buoyed by a recovery in chip prices and stro (SeongJoon Cho/Bloomberg via Getty Images / Getty Images)

“If the sellers believed that the tariffs were only going to be temporary and are being used as a negotiating tactic, they may not raise their prices immediately,” Scott Baier, chair of the John E. Walker Department of Economics at Clemson University, told FOX Business. “However, if the tariffs are believed to be permanent, firms may want to raise their prices. If consumer demand is not too sensitive to changes in the…