When the government imposes a tariff on imported goods, it essentially acts as a tax paid by the importing company. However, these companies rarely absorb these additional costs themselves. Instead, they typically pass them along the supply chain, ultimately reaching the end consumer.
Large purchases like automobiles, appliances, and electronics are likely to see some of the most noticeable price increases, according to Johnston. These items often rely heavily on global supply chains and imported components. Even products assembled in the United States frequently depend on imported parts, meaning tariffs could affect prices even for "American-made" goods.
What consumers should do now
Given these impending changes, you might want to consider making major purchases before the anticipated price hikes. However, at the end of the day, your personal finances matter much more for these kinds of buying decisions than trying to speculate on the market. Rather than trying to anticipate the ripple effect of Trump tariffs, you're better off turning to price-tracking tools and staying on top of what you need. And if you were already in the market for a big-ticket item—think washing machine, laptop, or car—consider pulling the trigger sooner rather than later.
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