When his camera stopped working on his iPhone recently, New Yorker Richard Medina didn’t waste any time. With the threat of tariff-fuelled price hikes on smartphones bearing down, he quickly called his phone company for a new one.
“I said, ‘We’ve got to switch this out now,'” the 43-year-old recalled. “Let’s take care of it.”
The move was a sign of the pressure rising across the US, where households are being buffeted by what could be staggering price rises, and even possible shortages triggered by the sweeping tariffs that US President Donald Trump announced this month.
Some are trying to stock up. Others say they feel paralysed by the changes, which have come quickly, or hope Trump will change his mind and reverse course – not an entirely unreasonable hope given the rapid changes in policy.
Trump, facing financial market revolt over his latest tariffs, has already altered his plans repeatedly.
First, he scaled back duties that had been planned on some countries, such as the European Union, in what was described as a 90-day pause.
Then, as market turmoil continued, he exempted smartphones and other electronics from the duties, announcing the carve-out just a few days after Mr Medina felt pressure to make a purchase.
“I can’t keep up with the president. Every day is something new,” said Anna Woods, 42, who recently received a message from her son’s summer camp warning that the tariffs might affect pricing of standard gear such as T-shirts.
The 42-year-old, who works in legal operations, says she is nervous but unclear how to proceed.
“I just feel like we’re living in uncertain times,” she said, adding: “I do need to make some purchases …. Everything is going up.”
