Trump’s April 2 tariff announcements and subsequent 90-day delay have shaken the markets. With a new deadline looming on July 8th, consumers face potential price hikes on numerous goods. This article highlights key items to consider purchasing before the tariffs take full effect.
Computers and Accessories
Many top computer brands like Apple, Dell, and HP depend on China for manufacturing and assembly. According to the OEC (Observatory of Economic Complexity), computers account for 8.7% of China’s total exports, emphasizing its vital role in the global tech supply chain.
While the U.S. has granted tariff exclusions on electronics, smartphones and computers for now, changing trade policies may soon impact their price. Laptops imported from Vietnam, South Korea, and Taiwan could face tariffs ranging from 25% to 46%. Now is a smart time to upgrade your work or gaming laptop.
OCT Medications
Tariffs on pharmaceutical ingredients could raise the prices of over-the-counter medications like pain relievers, allergy pills, and cold medicines in the U.S. The tariff on all Chinese imports may significantly impact generic drug costs, as 91% of U.S. prescriptions are filled with generics.
With at least 13% of drug ingredient facilities located in China, key components like ibuprofen and acetaminophen—found in Advil, Motrin, Tylenol, NyQuil, and Excedrin—could see price hikes. To prepare, consumers should stock up on essential medications before costs rise, buy in bulk during sales, and ensure proper storage for long-term use.
Televisions
If tariffs increase, TVs from countries like China, South Korea, and Vietnam could become more expensive in the U.S. Waiting to buy could cost more later.
To avoid higher prices, shoppers should get their flat-screen or smart TVs now while prices are still lower. Buying sooner can help them save money before any tariff increases make electronics more expensive.
Clothes
The United States imported $79.3 billion worth of apparel in 2023, primarily from Asia. Bangladesh, Cambodia, India, Indonesia, and Pakistan ranked among the top 10 U.S. suppliers, accounting for 27% of total apparel imports.
Tariffs on textiles and manufacturing heavily influence clothing costs. Since easonal clothes may see price hikes due to import fees, it’s time to make smart shopping choices. Americans can avoid paying inflated prices by purchasing off-season and stocking up before tariffs increase.
Smartphones
Tariffs on smartphones and electronic components could make these essential devices even more expensive for U.S. consumers. Since key parts come from China, South Korea, and Taiwan, production and shipping costs could rise, pushing up retail prices.
Analysts predict that iPhone prices could increase by 10%, with models like the iPhone 16 Pro Max jumping from $1,599 to $2,300 if a 43% tariff on China is passed to consumers. China’s export restrictions on rare earth elements may further drive up costs.
Consumers may want to hold onto their current phones longer or consider budget-friendly models before price hikes take effect to avoid paying more.
Footwear
Tariffs on imported materials like leather, rubber, and synthetic fabrics could push up footwear prices in the U.S. Since most shoes come from Vietnam, China, and Mexico, any tariff hikes on these sources would increase consumers’ costs.
The United States imported 203,767 footwear shipments between November 2023 and October 2024, highlighting the country’s reliance on foreign-made shoes. Invest in durable, high-quality footwear that lasts longer to avoid paying more.
Pet Food
Many pet food brands rely on imported grains, proteins, aluminum, and steel, meaning tariff hikes on these items could raise consumer costs. Pet owners should consider buying in bulk while prices are steady to avoid paying more.
Dry pet food can last up to a year, while canned food stays fresh even longer, making early stocking a smart choice. Those with pets on special diets should secure their preferred food in advance to ensure availability. Don’t forget to stock up on treats and supplements to maintain your pet’s routine without added financial strain.
Vehicles
Tariffs on vehicles and auto parts could raise costs for U.S. car buyers. Import tariffs could sharply raise prices since many components, such as engines, transmissions, tires, and electronics, are sourced from Mexico, Canada, and Japan.
Economist Arthur Laffer estimates some vehicle prices may increase by more than $4,700, making now a smart time to purchase a new car, replacement parts, or tires before costs rise. Some automakers, like Hyundai, BMW, Toyota, and Ford, have temporarily committed to keeping prices stable, but that may not last. Researching dealer stock and buying soon can help consumers avoid paying more due to shifting trade policies.
Wood Products
Canada supplies about 70% of U.S. lumber imports, and its lumber now faces a nearly 40% tariff, making future costs uncertain. In 2023, the U.S. imported $8.5 billion in sawmill and wood products, with $5.8 billion coming from Canada. Wood products, such as sawn wood, particle board, and carpentry items, made up 2.25% of total imports from Canada that year.
Tariffs on lumber and wood products could raise prices for furniture, construction, and home improvement projects in the U.S.These tariffs could increase building costs, discourage new construction, and increase home prices.
To avoid potential price hikes, consumers should purchase lumber and wood-based products for upcoming projects while costs remain stable.
Video Games
With a large percentage of consoles and gaming products imported from countries like Mexico and China, these tariffs could lead to higher costs, job losses, and economic strain. As one of the fastest-growing industries, video games drive innovation and cultural value, and imposing tariffs risks stifling this progress while burdening everyday consumers.
Tariffs on video games and related products could significantly impact the industry and consumers. According to the Consumer Technology Association, console prices might rise by 40-58%, making gaming less accessible for many Americans.
Batteries
Tariffs on imported metals like lithium and zinc could significantly increase battery prices in the U.S. China dominates the global battery market, producing 85% of anodes, 70% of cathodes, and 75% of battery cells, along with processing over half of the world’s lithium, cobalt, and graphite.
In early 2024, the U.S. imported $4 billion worth of lithium-ion batteries from China. Proposed 60% to 100% tariffs could increase costs by $2.4 to $4 billion. To prepare, consumers should consider buying batteries in bulk, including AA, AAA, and specialty types, as most can last up to 10 years when stored properly.
Baby Supplies
Tariffs on diapers, formula, wipes, and baby food could make these essentials more expensive for American families. Even diapers made in the U.S. may see price hikes since manufacturing equipment, packaging, and materials are often imported.
Families spend around $800 on diapers in a baby’s first year, and smaller pack sizes or fewer promotions could further increase costs. With smaller retailers facing supply challenges, specialty formulas like Kendamil, HiPP, and Holle may be particularly affected. To prepare, parents should stock up on essentials and buy in bulk.
