Washington, United States:
Days after President Donald Trump announced sweeping tariffs on foreign goods, Americans have just one thing on their minds – buy as much and as quickly as possible to beat the price rise.
They are prioritising essentials such as apparel, shoes, furniture and coffee, The Business Standard reported. And they are not leaving anything to chance. Many, who wanted to wait a while, have decided to buy automobiles, particularly those assembled outside the United States, to avoid paying steep prices when the tariffs kick in.
List of items Americans are stocking up on before the tariffs hit their wallets:
Laptops and smartphones
Soon after Trump announced a 32 per cent tax on imports from Taiwan and 52 per cent on those from China, Americans rushed to buy tablets, smartphones and laptops. Their components are mostly sourced from abroad, especially China.
Apparel and shoes
Major clothing brands such as Gap source about 21 per cent of clothing from Vietnam and 37 per cent from India, Indonesia and Bangladesh. Another popular clothing brand, H&M, also manufactures most of its clothing in China and Bangladesh. Hence, Americans are buying jeans, sportswear, workwear and shoes before tariffs take effect.
Automobiles
Americans who had been holding off on buying new cars or updated models, including EVs, are now rushing to showrooms to purchase imported vehicles. Customers are trying to lock in offers before prices go up.
Foreign foods
Coffee, snacks, condiments, and other grocery items imported from abroad are also on people’s lists. Once the tariffs take effect, these items will get expensive and therefore people are stocking up whatever they can get their hands on.
Gym and wellness equipment: Treadmills, stationary bikes, massage chairs, and other gym equipment, are either imported or contain components from different countries. Since they may get expensive, people feel it’s the right time to bring them home.
Electrical appliances
Americans are lining up at stores to buy home appliances such as refrigerators, washing machines, microwaves and dishwashers before prices go up. Several home appliances have parts or components imported from China or Taiwan and they will likely see a price rise soon.
Other items
Among other items, Americans are buying building and renovation materials, kitchen appliances and even children’s products. Since diapers, toys, baby clothes, and strollers are usually imported, they are likely to get expensive once the tariffs come into effect.
Earlier this week, President Donald Trump announced reciprocal tariffs on almost all countries, including the US allies such as the United Kingdom and the European Union, on what he described as “Liberation Day” for American industry.
On Saturday, a 10 per cent “baseline” tariff came into effect on most US imports except those from Mexico and Canada.
Around 60 other US trading partners will be subject to higher tariffs starting April 9. The rates have been designed to suit each economy based on what they charge on American imports, AFP reported.
