So don’t feel bad if you have no idea how to plan for what’s coming. The one thing everyone agrees on is that we’re going to experience higher prices and shortages no matter what happens, because the last shipments of products that weren’t subject to the new tariffs have already arrived in the U.S. From this point forward, most of the stuff you want or need will be affected. This might make you feel like it’s 2020 again and it's time to start hoarding and stockpiling, but it’s not that simple: There are some items that you maybe should hoard a little to insure yourself against price increases and shortages, but some items aren’t going to pay off if you load up on them. Here’s what you should—and shouldn’t—think about stockpiling.
Toys. Chinese factories manufacture about 80% of the toys sold in the U.S., so if you have kids and want to have toys for birthdays, holidays, and other events, you might do some pre-planning and stock up on those items ASAP.
Pet food. Speaking of your pets, it might not be a bad idea to stockpile their food. Pet food is going to get more expensive both because many use imported ingredients in their formulas and because the tariffs on imported aluminum will wallop the cost of canning it all.
Coffee and chocolate. As many have noted, the only place in the U.S. that is even capable of producing coffee is Hawaii, which produces less than 1% of the coffee we drink. So creating an emergency supply of coffee for yourself will come in handy when getting a cup of coffee requires a credit check. Similarly, domestic chocolate production isn’t exactly huge, so if you have a sweet tooth it’s a good idea to buy some bars now.
Underwear. You might not know that the U.S. imports a huge portion of our underwear from places like Vietnam, bringing in $2.21 billion worth of women's underwear alone last year. If you’re due for a refresh in that department, it would be a good idea to go underwear shopping right now.
Glasses and contact lenses. If you think you’re going to need new glasses soon, or you need a regular supply of disposable contact lenses, now would be a good time to get those new frames or stockpile your contacts. China is the largest supplier of frames and the plastics used in making eyewear lenses, so the tariffs—even if reduced after trade negotiations—will raise those prices.
Don't bother hoarding these items
Because the tariffs are so comprehensive, you can stock up on a lot of things without too much risk as long as you’re cognizant of spoilage and how much you actually use a particular product. But there are a few things that don’t make sense to hoard:
Clothing. Unless you typically buy several years’ worth of clothing at a time, stocking up on pants and jackets doesn’t make sense despite the near-certainty of price increases. If you’re already planning to replace/refresh some of your wardrobe, it’s a good idea to go shopping sooner rather than later, but buying extra clothes in bulk won’t pay off.
Electronics. Similarly, prices will go up on almost anything with a power cord, but you probably don’t need to stock up on gadgets. The money you might save will be offset by the fact that those gadgets will likely be out of date and possibly obsolete by the time you need to replace your current stuff.
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