How worried should US people be about "tariffs"? Should I invest in upgrading my equipment ASAP?
How worried should US people be about "tariffs"? Should I invest in upgrading my equipment ASAP?
Basically title. I'm a digital artist in the USA and not rich by any stretch. In fact, somewhat in debt. (Aren't we all.)
I also try really hard to not be a mindless consumer. I use old equipment as long as I can, repair, refurbish, etc...
All this talk of upcoming tariffs has me worried that, rather than being able to get a day-job at newly opened US manufacturing for electronics or something, I'll instead be paying +60% more on like everything.
I know tech is a depreciating asset, but should I try to upgrade now to hold out for the next ~5 years or so?
I was considering hunting down a motherboard/cpu/RAM combo for instance.
Are worries about tariffs overblown? Trying to figure out how to prepare as best I can with my meager resources before everything just...keeps getting worse.
I am getting paid for my digital art, it's not living money though. My spouse has a more stable income that enables me to keep trying.
Thanks in advance. <3
EDIT: Thanks a ton for all the helpful replies! I'm glad I'm not being overly paranoid.
Some of you have asked for system specs so here they are for the curious:
System Specs:
- OS: OpenSUSE Tumbleweed
- Mobo: Z590 Aorus Elite AX
- CPU: i7-10700k @ 5.1 Ghz
- GPU: Nvidia RTX 3090
- Mem: 32GB DDR4 (forget the speed...3000?)
I want to be clear: I don't mean to sound too panicked and I'm more than happy to be content with what I have and see my blessings for what they are.
However, as I'm trying to break into being a 3D Blender artist and gamedev professionally, I'm trying to strategize whether standards will significantly increase and leave me behind in the next 5 years or so. (Game industry, not trying to do Hollywood VFX models on my home rig or anything lol)
I don't game so much these days unfortunately. And if I do, like 5% of my library is particularly demanding. 😂
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For as much as everyone is saying to buy now out of economic fear, I wouldn't say they are wrong, but there are several steps that will have to happen first. Tarrifs must be congressional approved first. That means the bill must be presented, debated on, voted on, then signed. I would start to worry a little when we see the bill presented, but even then if he presents some insane ranting that everyone knows will kneecap the economy for the rich, then it won't go through and I wouldn't worry. But if he lets his economic hit men write it and it is airtight, targeted, and specifically- then I would be buying my computer parts before the effective date hits for the reasons people are saying.
Tarrifs must be congressional approved first.
Well it's a good thing that Trump bootlickers control both houses of congress as well as the courts they might be challenged in.
Their majority in the House is historically slim: they can afford to lose only a single vote. Something that is this obviously terrible for the economy will have some trouble there.
I tend to agree with that, but the messaging has also been sent out by the loudmouths that if you don't toe Trump's party line, they are going to sick the MAGA gun nuts on ya. And we also know Democrats are not overly safe on critical votes, Ala Manchin.
Tarrifs must be congressional approved first. That means the bill must be presented, debated on, voted on, then signed.
Unless Congress has already given the president that authority.
In early 2018 President Trump imposed tariffs on steel and aluminum imports under Section 232 of the Trade Expansion Act of 1962. This law states that the president can raise tariffs on imports that pose a threat to national security. Section 232 allows the President to implement these tariffs without the approval of Congress, following an investigation by the Department of Commerce. The Commerce Department has noted that threats to national security may include “fostering U.S. dependence on unreliable or unsafe imports” or “fundamentally threatening the ability of U.S. domestic industries to satisfy national security needs.”1
Except they'll jack prices anyway then if the tariffs don't stick they will say it was a precautionary cushion against potential tariffs while collecting the profits.
You're assuming that the tariffs exist in a vacuum. They do not.
As soon as vendors feel they can blame Trump/tariffs/whatever and not lose income, they will raise prices. Their costs don't need to actually go up - and if called out, they can say they're just responding to the uncertainty or whatever.
There are several reason why a President can impose tariffs without congressional approval. If he wants to do them, all he needs is a pretense, regardless how non-credible, and his own pen. Like the 'immigration emergency' that let him loot the military construction budget to build bits of border wall.
That's the biggest thing. More than anything they want us to keep buying, and they want to maximize profit. The guaranteed thing that will happen is they won't do anything that will jeopardize profits. So I'm really curious how much was just politicking, because more than anything they want the public to be dumb with their pocketbooks open.