Five items to buy now before Trump’s tariffs take effect on August 1st
Shoppers may want to open their wallets now before new Trump administration tariffs take effect next month. The sweeping trade measures, announced in April as part of the president’s economic strategy, are expected to drive up prices across several consumer categories.
Tech gadgets top the list of items to purchase soon. With uncertainty around potential price hikes on iPhones, laptops, TVs and printers, Forbes recommends making major electronics purchases before the tariffs hit. The tech sector remains particularly vulnerable to these trade policies.
Furniture shoppers should also act fast. Approximately 75% of U.S. furniture is imported, meaning sofas, dining tables, and office furniture could see significant price jumps. Domestic manufacturers haven’t yet scaled up production to offset potential shortages.
The textile industry faces similar challenges. Imported shoes – a wardrobe staple for most Americans – will likely become more expensive. Other affected items include men’s shorts, handbags, and bath towels, all predominantly manufactured overseas.
Food prices may see the most noticeable impact. With nearly half of U.S. fruits and nuts and two-thirds of vegetables imported from Mexico alone – totaling $45 billion in agricultural imports last year – grocery bills are expected to rise across the board.
Home appliances already carry heavy tariffs, with washing machines and refrigerators previously hit with 50% duties on steel components. The new measures could push prices even higher, making now an ideal time to replace aging appliances.
While some trade deals have been negotiated with allies like the UK, these upcoming tariffs promise to reshape consumer spending habits. Savvy shoppers would be wise to make major purchases in the coming weeks before the price increases take hold.
