President Donald Trump's tariffs are Switzerland movie 18+hitting tech companies hard, or at least they are in this one specific case.
Wyze, a company that specializes in security equipment like cameras, took to X on Wednesday to share an example of what tech companies are going through right now. According to Wyze, one shipment of floodlights accrued a tariff bill that was much larger than the sticker price: $255,000 in tariffs on a $167,000 purchase. The Wyze tweet also claimed that the amount is more than any of its founders made last year.
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For clarity's sake, this shipment came from China, which currently has a staggering 145 percent tariff slapped on all imports. It also happens to be where a lotof tech products are manufactured. The company suggested in a follow-up tweet that it would be rapidly moving production to Vietnam instead, which is in the middle of a 90-day pause on tariffs.
Whether or not this means Wyze products will go up in price due to the tariffs, the general takeaway here is that importing things from China is now prohibitively expensive. Given that so many products are made in China, that's going to be problematic over time. We already knew all of that, but seeing the actual numbers as shared by a company's social media manager is a sign that we're living in strange times, indeed.
Topics Tariffs
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