Brace for impact: US tariffs loom larger, threatening chaos for camera prices
takasuu / iStock / Getty Images Plus via Getty Images US President Donald Trump has signaled his intent to move forward with new tariffs that will go into effect on August 1st, impacting imports from several countries. As reported by the Associated Press, Trump announced the tariffs by posting copies of letters addressed to leaders of several countries, including Japan and Thailand – where many camera and lens manufacturers build products – on social media. According to the letters, imports from Japan to the US will face tariffs of 25% and imports from Thailand will face tariffs of 36%. The new tariffs aren't entirely unexpected. The Trump administration initially announced tariffs aimed at numerous countries back on April 2nd, including 24% on Japanese goods and 36% on imports from Thailand. However, it subsequently placed a 90-day pause on full tariff amounts on April 9th, setting a universal baseline tariff of 10%. On Monday, US President Donald Trump posted copies of letters to leaders of several countries to Truth Social announcing new tariffs to go into effect on August 1st, including this letter to Japanese Prime Minister Ishiba Shigeru. As a result, US consumers have experienced increased prices on some camera products, with companies like Sigma, Canon, Nikon and Sony raising prices accordingly over the past few months. The new August 1st deadline effectively adds three additional weeks to the 90-day pause announced in April, though given the unpredictability we've seen until now, it's possible that things could change again before the new tariffs go into effect. If not, US consumers could experience additional price hikes on many photography products due to the additional tariffs. It's important to note that not all cameras and lenses are produced in these countries. Many companies have moved a significant portion of manufacturing to other Asian countries in recent years, including China, which is experiencing its own trade conflict with the US. Notably, Tamron began operating a new factory in Vietnam in February. Last week, the Trump administration announced a new trade deal to charge 20% tariffs on imports from that country, less than the 46% tariffs originally announced in April.
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| takasuu / iStock / Getty Images Plus via Getty Images |
US President Donald Trump has signaled his intent to move forward with new tariffs that will go into effect on August 1st, impacting imports from several countries. As reported by the Associated Press, Trump announced the tariffs by posting copies of letters addressed to leaders of several countries, including Japan and Thailand – where many camera and lens manufacturers build products – on social media.
According to the letters, imports from Japan to the US will face tariffs of 25% and imports from Thailand will face tariffs of 36%.
The new tariffs aren't entirely unexpected. The Trump administration initially announced tariffs aimed at numerous countries back on April 2nd, including 24% on Japanese goods and 36% on imports from Thailand. However, it subsequently placed a 90-day pause on full tariff amounts on April 9th, setting a universal baseline tariff of 10%.
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| On Monday, US President Donald Trump posted copies of letters to leaders of several countries to Truth Social announcing new tariffs to go into effect on August 1st, including this letter to Japanese Prime Minister Ishiba Shigeru. |
As a result, US consumers have experienced increased prices on some camera products, with companies like Sigma, Canon, Nikon and Sony raising prices accordingly over the past few months.
The new August 1st deadline effectively adds three additional weeks to the 90-day pause announced in April, though given the unpredictability we've seen until now, it's possible that things could change again before the new tariffs go into effect. If not, US consumers could experience additional price hikes on many photography products due to the additional tariffs.
It's important to note that not all cameras and lenses are produced in these countries. Many companies have moved a significant portion of manufacturing to other Asian countries in recent years, including China, which is experiencing its own trade conflict with the US. Notably, Tamron began operating a new factory in Vietnam in February. Last week, the Trump administration announced a new trade deal to charge 20% tariffs on imports from that country, less than the 46% tariffs originally announced in April.
