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In February, Taiwanese firm Acer said the price of its laptops would likely rise by 10% based on the 10% duties in place on China at the time, while US group HP has warned its profits would be lower because of the tariffs.

HP Inc. plans to lay off up to 2,000 more employees as the company looks for ways to slash costs amid economic uncertainty and eyes more investments in artificial intelligence.

HP’s updated restructuring plan will save the company an estimated $300 million by the end of fiscal year 2025, according to a filing to the U.S.

HP has roughly 58,000 workers globally.

HP has been doubling down on investments in artificial intelligence as well.