By Elisabeth Buchwald, CNN

(CNN) — President Donald Trump on Wednesday launched a US trade war with every country via a barrage of tariffs that are set to go into effect almost immediately. American consumers and businesses stand to pay a hefty price for that battle.

For the first time since Trump’s return to the Oval Office, it’s not a question of what could get more expensive due to tariffs but rather a matter of when. And the short answer to what could get expensive is, well, everything.

Assuming Trump proceeds with the plans he laid out on Wednesday — and he has said there is no room for negotiation — only certain goods from Mexico and Canada have a shot at avoiding any tariffs. Otherwise, all countries’ goods will be subject to a minimum 10% tariff, with rates going much higher for 60 countries the administration deems the “worst offenders” in terms of trade barriers.

At the very top of that list is China. Come April 9, the US will impose a 54% tariff on nearly everything coming from China. And rates go even higher, to 79%, if Trump follows through with his promise to slap an additional 25% tariff on any nation that buys oil from Venezuela, which China has done.

And then starting on May 2, the 54% tariff rate will also be applied to packages worth less than $800 coming to the US from China and Hong Kong. (Think Shein, Temu and AliExpress.)

In total, the average American household will pay $2,100 more per year for goods because of the tariffs, the nonpartisan Tax Foundation estimated.

The ‘worst offenders’

The United States imported $439 billion worth of goods from China last year, the second top source of imports behind Mexico.

Among the other “worst offenders” that the US relies heavily on for imported goods are Vietnam, which will face an across-the-board 46% tariff; and Taiwan, which will be subjected to a 32% tariff rate.

Vietnam was the sixth top source of goods the US imported last year and Taiwan was the eighth, according to US Census Bureau data.

Since tariffs are a tax on imported goods, it’s American businesses that will have to foot the bill initially when goods from these countries reach the US. But it’s not always the case that businesses fully pass along the additional costs they’re responsible for. In some cases, they may have contracts set in advance with wholesale customers requiring them to sell to them at a given price. Or they may opt to keep prices lower relative to the additional cost they face in order to keep customers.

Even if more production shifts to the US, where Trump has repeatedly said tariffs are “zero,” it can cost more to produce the same goods that were purchased from abroad, which could lead to price hikes.

Having said that, here’s what has the potential to get most expensive from the new round of tariffs.

Laptops and tablets

China, Vietnam and Taiwan were the top three foreign suppliers of laptops and tablets to the US last year, shipping a total of $47.2 billion worth, according to federal trade data.

Almost all consumer electronics, including smartphones and computer monitors, are likely to see price increases.

Additionally, since the US relies heavily on Taiwan for semiconductors, US consumers are likely to see a price hike on laptops, cars, household appliances, medical devices, Wi-Fi routers and LED lightbulbs. And these products often don’t just require one or two chips — new cars contain thousands of them.

(Trump floated a separate 25% semiconductor tariff, but a fact sheet the White House put out on Wednesday said such tariffs won’t come on top of the reciprocal tariffs that were announced.)

Ed Brzytwa, vice president for international trade at the Consumer Technology Association, told CNN it will likely take three to four months for current retail inventories to dry up. At which point, consumers could start to see prices go up “just in time for the back-to-school shopping season and the holidays.”

Footwear

China and Vietnam shipped a combined $18.5 billion worth of shoes to the US last year. That’s nearly 70% of all shoes the US imported.

Toys

China and Vietnam were the top two sources of foreign toys sent to the US last year, shipping a total of $15 billion worth.

The Toy Association estimates that 77% of all toys sold in the US are manufactured in China alone. “It’s just not an industry that is built to be able to manage through a tariff of that magnitude,” Greg Ahearn, president and CEO of the trade group, told CNN, referring to the soon-to-be 54% tariff on Chinese goods.

American consumers, he said, likely won’t start seeing higher prices until late summer, when new products are typically rolled out ahead of the back-to-school period and shipped along with “staple” toys.

Because the profit margins on toys tend to be fairly slim, toy companies have little ability absorb much of the higher costs from tariffs, he said. All the more so with 54% tariffs.

Toys made in China that are sold in the US, he estimates, will cost consumers at least 30% more than they currently do.

Clothing

If you want a sense of just how much apparel the US imports, look no further than the tags on your clothing. If you’re seeing a lot of China and Vietnam printed, rest assured you’re not alone. Both shipped about $14 billion worth of apparel to the US last year, the top two sources of foreign-made clothes.

On top of which, other top sources of foreign apparel, Bangladesh, India, Indonesia and Cambodia, are also being hit with “reciprocal tariffs” ranging from 26% to 49%.

“The Trump tariffs will have a substantial impact on the fashion industry,” Stephanie Gauzens, a spokesperson for the US Fashion Industry Association, told CNN. Gauzens didn’t provide CNN with estimates on how much more Americans could stand to pay for clothing.

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