With the new tariffs approved by the Trump administration, Americans are flocking to supermarkets and stores to stock up on essential goods. The upcoming tariffs on imported goods are expected to drive prices higher, leading to increased demand for food items like perishable groceries, milk, and vegetables, as well as electronics, clothing, and car parts.
The tariffs, set to take effect soon, have caused widespread concern, as the cost of imported goods is predicted to rise significantly. As a result, Americans are buying items in advance to avoid higher prices. This surge in shopping is also impacting the construction industry, with people purchasing building materials early to avoid potential cost increases. Experts estimate that building a new home could see an additional cost of up to $9,000 due to the new tariffs.
According to a policy expert, lower-income families could face a loss of approximately $980 annually due to these tariffs. With the rising cost of living, this will put further strain on middle-class families.
Experts advise consumers to plan their purchases carefully. While non-perishable goods can be stocked up, buying perishable items in excess, like fish without proper storage, could lead to waste. The first phase of the tariffs begins this Saturday, with a 10% tax on all imports, and more significant hikes expected from April 9th onwards.
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