As the first round of President Trump’s tariffs on Chinese imports come into effect Friday, some millennial-loved products are set to take a hit.
Smart home devices, navigation devices, smart thermostats, and disk drives all fall under the first round of tariffs. E-cigarettes and vaporizers from companies like Juul and Blu, along with electric scooters and e-bikes will be affected by the second round of tariffs, which currently have no implementation date.
The Office of the U.S. Trade Representative says China has coerced American companies into “transferring their technology and intellectual property to domestic Chinese enterprises.” Their economic manipulation bolsters “China’s stated intention of seizing economic dominance of certain advanced technology sectors as set forth in its industrial plans.”
While the 818 items on the tariffs list is said to most greatly impact agricultural and manufacturing industries, products popular with millennials and generation Z — like vaporizers, electric scooters, and smart home products — are expected to take a hit as well.
“With each scooter already costing about $500 and e-bikes even more, a 25 percent tariff could put a significant dent in these companies’ already substantial capital costs,” according to the Financial Times.
“We must take strong defensive actions to protect America’s leadership in technology and innovation against the unprecedented threat posed by China’s theft of our intellectual property, the forced transfer of American technology, and its cyber attacks on our computer networks,” Trade Representative Robert Lighthizer said in a statement.
He continued. “President Trump rightfully recognizes that if we want our country to have a prosperous future, we must take a stand now to uphold fair trade and protect American competitiveness.”
