Financial experts warn higher tariffs on China could translate to higher prices for Americans.
The U.S. imports many key products from China including mobile phones, computers, electronics, clothing and toys, according to the U.S. Census Bureau.
Analysts estimate that if the current U.S. tariff rate on goods imported from China remains in place, American consumers can expect significant increases on a variety of goods.
The Apple iPhone 16 Pro Max 256GB currently retails at $1199 but could jump $800 (67%) if subject to the 125% tariff rate on Chinese goods, according to analysts at investment bank UBS. The device, like most iPhones, are assembled in China, the analysts note.
A Playstation 5 that currently retails for $499.99 could increase by about $600 to $1,099, the Center for American Progress (CAP) estimates.
CAP also estimates a child's car seat, a mandatory safety item in all 50 states, would also increase in price by about $61 from an average unit price of $59 to $120.
Everyday items will likely be impacted as well, with the Footwear Distributors and Retailers of America estimating the price of an average pair of boots made in China will increase by $38. The average cost of a pair of boots would then go up from $77 to about $115.
Trump's tariffs: How American families, parents will be impactedMichael Becher, the chief operating officer of Fab Dog, a dog toy and accessory company, told ABC News that increased tariffs on China will greatly impact the small business, which manufactures all of their products in China.
"This is putting the American dream at risk," Becher said.
"We used to pay a 4.3% duty on a dog toy 30 days ago. Now, our duty on dog toys is going to be 129.3%. I mean, you can't even make that up," he continued.
By The Numbers: Chinese goods will get expensiveDespite a 90-day pause on reciprocal tariffs announced Wednesday, President Donald Trump announced that the U.S. was raising tariffs on China and its goods to 125% after China announced retaliatory tariffs on the U.S.
"A deal is going to be made with China. A deal is going to be made with every one of them and there will be fair deals. I just want fair," Trump said Wednesday afternoon.
Stocks on Wall Street have rallied since the temporary pause was announced but business owners, farm owners and port workers are still facing uncertainty.
"China represents more than 40% of the business at the Port of Los Angeles. On the import side, we're bringing in furniture, clothing, footwear, electronics, and appliances among other finished goods," Gene Seroka, the executive director of the Port of Los Angeles, told ABC News.
"The flow of cargo coming to the Port of Los Angeles certainly will be impacted," Seroka added.
