How to Stock up Before Tariffs Cause Prices to Rise
If there is one message about the trade war that we hear over and over again, it is that life will become more valuable. And that could be a reason to shop right now.
President Trump’s latest round of tariff hikes from 10% to 25% on US imports from China includes some increases that are likely to sneak up on you , such as food and cleaning products. Prices for items such as mattresses and luggage are also expected to rise.
But that’s not all, folks: Another round of tariff hikes on additional categories could begin in early fall, economics professor Catherine Russ told CNBC . These increases, which will especially affect electronics, can make it difficult to stay on your vacation budget.
“The proposed list will cover nearly all consumer products not affected by previous tariffs,” Reuters notes .
What is worth buying before prices start to skyrocket in the expected next round? If you are already planning to shop in the following areas, you might want to shop sooner rather than later.
- Back to school: clothes, shoes, backpacks and pencil sharpeners.
- Lawn mowers
- Sporting goods and camping equipment
- Electronics: game consoles, TVs, laptops, tablets and smartphones.
“If you were planning a major purchase in six weeks, you might want to make that purchase today,” David French of the National Retail Federation told CNBC.
But of course, to do it smartly, you need to have cash on hand. Don’t finish or charge new TVs for your entire family if you haven’t already planned. Go instead of running if you really want to buy the above items.