There are five major purchases you should buy now before Donald Trump‘s tariffs come into effect on August 1st.
Trump’s controversial tariff policy has left many U.S. citizens feeling nervous about prices going up.
“As per letters sent to various countries yesterday, in addition to letters that will be sent today, tomorrow, and for the next short period of time, TARIFFS WILL START BEING PAID ON AUGUST 1, 2025. There has been no change to this date, and there will be no change,” Trump wrote on Truth Social on July 8.
But there are five major items you should purchase right now, if you want to save some major cash.
Trump has implemented extensive tariff policies as a cornerstone of his trade strategy, imposing taxes on imported goods that companies must pay to the government and typically pass on to consumers as higher prices, the BBC reports.
His administration justifies these measures as necessary to boost American manufacturing, protect domestic jobs, reduce trade deficits, and address national security concerns, including immigration and drug trafficking.
The economic impact has been substantial and largely negative, creating global market volatility, weakening the dollar, and prompting international organizations to downgrade growth forecasts for 2025.
American consumers are experiencing direct effects through higher prices on imported goods, with major corporations like Adidas and Mattel announcing price increases, while the ripple effects extend to domestically manufactured products using imported components.
And there are five areas in which these price increases are particularly expected to impact, as per Forbes.
Technology Items
Technology products like iPhones, laptops, televisions, and printers are priorities for immediate purchase due to uncertainty about potential price hikes.
While there remains some ambiguity about whether tech items will definitely see increases, experts recommend making major electronic purchases soon to avoid any potential cost escalation when the new tariffs are implemented.
Furniture
Furniture represents a major concern since approximately 75% of all furniture sold in the United States is manufactured overseas, according to the Alliance for American Manufacturing.
Unless domestic furniture production significantly increases, consumers will likely pay more for all types of furniture, ranging from office desks and coffee tables to sofas and dining room sets.
Textiles
A wide range of textile products manufactured overseas are expected to become more expensive, including an item many consumers already own in abundance: shoes.
The price increases will likely extend beyond footwear to include men’s shorts, crossbody bags, bath towels, and other clothing and household textile items when the new tariff measures take effect.
Food
Food emerges as perhaps the most critical category for consumers, with much of America’s food supply set to see price increases due to tariffs.
The United States imported over $45 billion worth of agricultural products from Mexico in 2023 alone, including nearly two-thirds of all imported vegetables and almost half of all fruits and nuts, making grocery price increases highly likely when tariffs are imposed on these essential imports.
Home Appliances
Home appliances are already experiencing price increases due to existing 50% tariffs on steel products affecting washing machines, refrigerators, and dishwashers.
With additional measures being implemented next month, these essential household items could see further price escalation, making immediate purchases advisable for consumers planning major appliance replacements or upgrades.
There are also questions about how the tariff changes could impact property values.
“If tariffs contribute to higher inflation, central banks may be forced to tighten monetary policy, which can weigh on bonds and borrowing costs.
“This could impact everything from mortgage rates to corporate investment, potentially slowing economic growth,” Interactive Investor’s Senior Personal Finance Analyst, Myron Jobson, told Manchester Evening News.
