All the back-and-forth surrounding President Donald Trump’s wide-ranging tariffs has brought on concerns surrounding rising costs of high-end luxuries and everyday essentials. With everything from groceries to sneakers to iPhones in the crosshairs, you might be wondering what, if anything, you should buy ASAP. We’re right there with you.
As SELF’s senior commerce writer, I understand the importance of shopping wisely. More often than not, that means finding great deals on products that you want to buy anyway but would prefer to spend a little less on. If projections around the tariffs’ impact are correct, then getting some shopping done now could save you time and money later.
Here, we’re taking a closer look at what Trump’s tariffs may mean for our shopping habits, then highlighting some of the purchases we’re considering making in the coming days.
What are tariffs?
Tariffs are essentially taxes that US-based companies have to pay when they import goods. When tariffs rise, companies may pass those additional costs along to their consumers. That’s the reason for all the noise around increased costs on items that the US regularly imports from the European Union, China, Japan, Vietnam, and other parts of the world. CNBC reported Wednesday that imports currently in transit to the States won’t be subject to the tariffs, but it’s expected that companies will eventually raise their prices to offset the new cost.
There’s a lot more to discuss here—and it doesn’t help that the Trump administration’s messaging around these tariffs has been confusing and vague (at best)—but that’s the gist for those concerned about the impact the tariffs may have on their personal spending.
Where will we see the biggest impact?
Brands that rely on manufacturers in Asia for a lot of their products, like those in the tech and sportswear sectors, are expected to raise prices due to the tariff increases (at the time of writing, Trump has paused the tariffs announced on Wednesday morning, with the exception of the universal 10% tariff and the tariff on Chinese goods, which is now 125%). That means big electronics will likely cost more, as could sneakers and apparel from Nike, Adidas, and other major activewear brands. To make matters worse, there doesn’t appear to be a way around increased expenses for certain items: One prominent tech analyst told CNN that, even if Apple were to move some of its production to the US in an effort to avoid the tariffs, an iPhone could cost over $3,000.
Americans are also concerned about groceries and other essentials getting more expensive, with good reason. Coffee, seafood, fruit, and cheese are just some of the goods that the US commonly imports from other countries, so even something as simple as your morning bev could take a hit very soon.
Here’s what we’re shopping for now
As things stand, the tariffs are surrounded by an air of uncertainty: What will happen after the 90-day pause? Are the tariffs actually negotiable? When, exactly, will goods get more expensive for Americans (and to what extent)?