What Will Tariffs Made More Expensive? What to Buy, Stock Up On

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Yesterday, Donald Trump announced sweeping import tariffs in the name of “economic independence.” “For years, hard-working American citizens were forced to sit on the sidelines as other nations got rich and powerful, much of it at our expense,” said the president. “But now it’s our turn to prosper.”

Trump’s new plans impose a baseline 10-percent tariff on all imports, but much higher taxes on dozens of countries, including key importers like China (34 percent), European Union members (20), Vietnam (46), Taiwan (32), and Japan (24). The new tariffs will also target specific goods; foreign-made automobiles, for example, will see a 25 percent tariff.

What Will Tariffs Make More Expensive?

For consumers, these tariffs will likely mean more expensive goods (Trump’s administration knows this). Major importers like Amazon, Target, and Best Buy are likely to pass on their increased import expenses to consumers, increasing the cost of essentials like clothing, food, and electronics.

In short, now is a great time to stock up on any imported goods you’ve been thinking of buying, or know you’ll need to buy in the next several months. Below is a quick list of products likely to be affected by the new tariffs that you can buy right now before they potentially become more expensive.

Electronics

Almost all consumer electronics are manufactured outside of the U.S., including many in China (a primary target of Trump’s new tariff reform). The majority of Apple products, for example, are made in China, with some production in India, Vietnam, and other Asian countries. If you’ve been thinking of upgrading you iPhone or AirPods, now is a good time to do so. Shop electronics at Amazon now.

Clothing

Clothing is another sector likely to be hit by the new tariffs. Whether it’s affordable clothing from Abercrombie & Fitch (manufactured in China, Vietnam, India, and other counties) or designer pieces from Italy and France, there’s a good chance that your spring shopping could see a price hike. Even classic American brands like Levi’s could get more expensive, since they primarily manufacture outside of the U.S.

Cars

Foreign automobiles are another specific target in the new tariffs. Volkswagen and other auto manufacturers have already announced “import fees” for American buyers, meaning higher prices on new cars, likely as soon as late spring. With dealerships set to hike prices, some car buyers are now turning to online sites for deals on new cars. Shop new cars at Cargurus now.

Food

Imported food products like coffee, spices, meat, cheese, and many more could also see a price hike following the president’s announcements. If you have any go-to items that are imported, it might be a good time to stock up. Shop groceries at Amazon.

Alcohol

If your drink of choice is Scotch Whisky, beer (including America’s No. 1 brand, Modelo), Tequila, French wine, or any other non-American beverage, it could get more expensive soon. If you don’t want to lug bottles from the market, you can order your favorites from online retailers like ReserveBar and Total Wine & More. Shop spirits now at Total Wine & More.

What Are Tariffs?

Tariffs are duties (taxes) that a government imposes on goods imported into its country. The tax is usually a percentage of the imported product’s value. Tariffs are a way to limit the importation of foreign goods and, according to Trump, bolster the production and consumption of domestic goods.