financetom
Technology
financetom
/
Technology
/
Chinese electronics company Anker starts raising prices on Amazon
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Chinese electronics company Anker starts raising prices on Amazon
Apr 11, 2025 2:31 AM

SHENZHEN, China (Reuters) - China's Anker, one of Amazon's ( AMZN ) largest sellers offering products from power banks to phone cases, has raised prices on a fifth of its products on the U.S. platform since Thursday, in a sign that tariffs on Chinese goods are being passed on to U.S. shoppers.

Some 127 Anker products have seen an average increase of 18% since Thursday last week, with the majority of those occurring after Monday, April 7, when U.S. President Donald Trump added an extra 50% import duty on Chinese goods, according to data from e-commerce services provider SmartScout.

U.S. import tariffs on Chinese products now stand at 145%. Beijing on Friday raised its tariff on U.S. goods to 125%, as a trade war between the world's top two economies intensifies.

Anker and Amazon ( AMZN ) did not immediately respond to requests for comment.

The move follows warnings from China's largest cross-border e-commerce association that many Chinese companies that sell products on Amazon ( AMZN ) are preparing to hike prices for the U.S. or quit the market due to the tariffs.

"It's the most concerted effort (to raise prices) I've seen across any brand," said Scott Needham, SmartScout's founder.

Anker, which has 5,000 employees and annual revenues of 22.17 billion yuan ($3 billion), has become a major seller on Amazon ( AMZN ) since being founded by a former Google software engineer in 2011.

On a call with investors on Monday, Anker said that it was able to raise prices as it had bargaining power and because its rivals were mainly Chinese and under similar tariff pressure, but did not provide specifics.

It also said it would explore non-U.S. markets like Europe and Southeast Asia.

($1 = 7.3218 Chinese yuan renminbi)

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
The Analyst Verdict: EPAM Sys In The Eyes Of 9 Experts
The Analyst Verdict: EPAM Sys In The Eyes Of 9 Experts
Oct 10, 2024
Ratings for EPAM Sys were provided by 9 analysts in the past three months, showcasing a mix of bullish and bearish perspectives. The following table encapsulates their recent ratings, offering a glimpse into the evolving sentiments over the past 30 days and comparing them to the preceding months. Bullish Somewhat Bullish Indifferent Somewhat Bearish Bearish Total Ratings 2 5 2...
Assessing ON Semiconductor: Insights From 11 Financial Analysts
Assessing ON Semiconductor: Insights From 11 Financial Analysts
Oct 10, 2024
In the preceding three months, 11 analysts have released ratings for ON Semiconductor , presenting a wide array of perspectives from bullish to bearish. The table below provides a concise overview of recent ratings by analysts, offering insights into the changing sentiments over the past 30 days and drawing comparisons with the preceding months for a holistic perspective. Bullish Somewhat...
Demystifying SolarEdge Technologies: Insights From 22 Analyst Reviews
Demystifying SolarEdge Technologies: Insights From 22 Analyst Reviews
Oct 10, 2024
22 analysts have shared their evaluations of SolarEdge Technologies ( SEDG ) during the recent three months, expressing a mix of bullish and bearish perspectives. The table below provides a snapshot of their recent ratings, showcasing how sentiments have evolved over the past 30 days and comparing them to the preceding months. Bullish Somewhat Bullish Indifferent Somewhat Bearish Bearish Total...
US trade deficit contracts as exports rise to record high
US trade deficit contracts as exports rise to record high
Oct 10, 2024
* Trade deficit shrinks 10.8% to $70.4 billion in August * Exports increase 2.0% to record high; imports fall 0.9% By Lucia Mutikani WASHINGTON, Oct 8 (Reuters) - The U.S. trade deficit narrowed sharply in August as exports increased to a record high, suggesting that trade could have little or no impact on economic growth in the third quarter. The...
Copyright 2023-2025 - www.financetom.com All Rights Reserved