For every American, the fear of the economy crashing and prices of goods increasing is real right now! The ongoing Trade War between the US and other countries is only going to make things worse and increase the prices of goods. For instance, China has retaliated with 34% additional tariffs.
Canada and the UK plan to do the same due to the hike in tariffs. The price of normal grocery items, appliances, and vehicles is set to increase with the high tariff. Due to this, Americans will have to pay more than double or triple for some imported items.
In his new tenure as the President, Trump is on the roll to establish new rules, tariffs, and reforms. He basically wants to uplift the economy. However, many feel this may uproot the economy for common people. On April 2nd, Trump announced a 10 %‘baseline’ tax. This is a globally applicable tax that will add tariffs to several imported items across the globe.
This tariff increase can go up to 60% for countries that are not on Trump’s worst offender list. Vietnam has a 46% tariff, and South Africa has a 30% tariff hike. Trump has a skewed definition of groceries as he says it’s an outdated word. However, he claims the prices are coming down along with the energy costs. His statement does not make sense as the prices are about to skyrocket with the new tariff increase.
Donald Trump has already raised the average tariff on America’s imports by about twice as much as he did in his entire first presidency. The uncertainty about what comes next is just as damaging https://t.co/2csFjEkEyA
— The Economist (@TheEconomist) March 31, 2025
Experts say, the new tariff will increase the price of everyday items. Therefore, shoppers are being recommended to stock up on some items. Moreover, if they are planning to buy certain items, they should not delay and get them sooner. This change has already impacted the stock market. Moreover, global stocks and the value of US dollars have decreased in the past six months.
Consumers are suggested to buy items like avocados, bananas, coffee, tea, and even toys before the prices increase too much. This applies especially to the imported goods that come from heavily taxed countries. The tax will drastically increase the price. Apart from these common grocery items, people are suggested to buy clothes, washers, dryers and furniture in advance if they wish to splurge on these items. So if you need a new washer and dryer, it makes sense to invest in a good one today before the price increases.
Price hikes from Trump’s tariffs could start with clothing, cars and coffee – The Washington Post https://t.co/D9KD3d2eQH
— Dana Hedgpeth (@postmetrogirl) April 3, 2025
If you want to buy a vehicle, make a purchase soon, as imports from the UK and Canada will be taxed as per the new tariffs. The change in tariffs is not welcomed at all by the Americans. Even former president Barack Obama expressed his concerns. He said, “ I have deep differences of opinion with my most immediate successor — who’s now president once again. When I watch some of what’s going on now, it does not — look, I don’t think what we just witnessed in terms of economic policy and tariffs is going to be good for America, but that’s a specific policy.”
The economic situation is unprecedented for all, and prompt action is necessary to fight the price hike.
