On Friday, amid a tariff-induced frenzy that drove hordes of consumers to panic-buy iPhones, President Trump announced a tariff exemption on electronics like smartphones and computers. For a moment, widespread anxiety about a potential $2,000 iPhone dissipated.
But two days later, the Trump administration said smartphones and computers were likely to be hit with new tariffs targeting semiconductors, or chips. More expensive iPhones could come after all! Talk about whiplash.
Don’t panic. Even if tariffs did cause the iPhone’s price to surge, we would have plenty of cheaper options, like buying last year’s phone model instead of the latest and greatest.
The most important lesson we can learn from the turmoil: The only consistent way to save money on tech is to use devices for as long as possible, which requires maintaining them as you would a car, and upgrading only when you must.
“Buy the best and drive it into the ground,” said Ramit Sethi, a personal finance expert. “Holding that item for longer will bring down the overall cost of ownership.”
There remains lots of uncertainty around future costs of tech hardware in general. Nintendo this month canceled plans to start taking orders for its game console, the $450 Nintendo Switch 2, to evaluate the impact of tariffs on pricing and availability. Costs of some accessories, like phone chargers, power bricks and cases, have already risen on Amazon.
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