"It'll affect the unit sales, meaning that each product will go up in price significantly," CTA CEO Gary Shapiro said.
A key difference between these tariffs and the ones from 2018 is that Trump has threatened placing tariffs that could apply to all products, whereas the 2018 tariffs were targeted on specific product codes and categories, and companies could apply for waivers for their goods.
Whether Trump follows through on placing tariffs across the board remains to be seen. The Washington Post reported earlier this month that the Trump administration is considering imposing fees only on certain sectors.