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Trump tariffs could raise prices on technology like laptops, smartphones and AI

The world's most valuable chipmaker and the world's largest contract manufacturer for electronics announced in November that Foxconn was building a massive factory in Guadalajara, Mexico, to assemble Nvidia's artificial intelligence servers.

Starting in early 2025, Nvidia would start producing its hotly demanded GB200 NVL72 server racks in Mexico, the two companies said.

That announcement reflects what could be at risk if President Donald Trump's blanket tariffs go into effect. Trump is expected to reveal more details on which specific tariffs will be placed on imports from China, Canada, and Mexico on Saturday. 

With Apple, Microsoft and Tesla reporting their December quarter earnings this week, investors will want to know how Trump's threats of blanket tariffs on the country's top trading partners could affect their businesses.

Those firms already grappled with proposed tariffs on consumer products from China in 2018, as well as China's retaliation. But Trump's proposed tariffs on electronics from Mexico would be a new wrinkle. 

That's because many companies specifically expanded production in the country in a so-called nearshoring effort in response to Covid disruptions and the tariffs from the first Trump administration.

"If we increase the tariffs on Mexico, it's actually penalizing the companies that have been very progressive and trying to make great strides and restructure their supply chain," said Richard Barnett, chief marketing officer of Supplyframe, a Siemens subsidiary that makes software which tracks electronics component prices and lead times.

Electronic products imports from Mexico rose from $86 billion in 2019 to $103 billion in 2023, or about 18% of total electronics imports, according to the International

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