An economic expert has identified everyday items likely to see price increases as Donald Trump’s new tariffs begin affecting U.S. imports.
On April 2, President Trump announced tariffs on nearly all imported goods, setting a base rate of 10%. However, some countries face steeper levies, such as a 46% tariff on Vietnamese goods, 30% on South African imports, and up to 200% on European alcohol.
Trump claims these measures will “Make America Wealthy Again,” but consumers may feel the pinch before seeing any benefits. Prices on common household items are expected to rise, prompting economist Dr. Sung Won Sohn of Loyola Marymount University to advise shoppers to stock up before costs climb.
Grocery Staples: Avocados, Coffee, and More
“We import 80% of the avocados consumed in America, and since they are perishable, their prices will rise almost immediately,” Sohn told The New York Post. He also warned that tea, coffee, and bananas will see quick price hikes.
Home Appliances: Washers and Dryers
Washers and dryers from South Korean manufacturers may also become more expensive, as they fall under the same tariff category as cars and auto parts. Trump’s 25% tariff on imported vehicles took effect yesterday, further contributing to rising costs.
Shoppers should prepare for price surges across multiple product categories as the tariffs take hold.
Washing machines are likely to go up in price (George Frey/Bloomberg via Getty Images)
However, this hike may take longer to kick in as it’s believed the US has existing inventory that has yet to be emptied out.
“They have inventory so as a result prices don’t have to go up right away,” he explained.
In regards to cars, you may not be offered the same discounts from car dealerships that you would have done previously as a result of the tariffs, Sohn further noted.
Furniture
The US imported a staggering $9.4 billion worth of furniture from China in 2023, says CNBC.
China is one of the worst hit countries when it comes to Trump’s tariffs and is facing a 54 percent tariff rate.
Trump already hit China with a 20 percent hike, which came into force on March 4.
The president then hit the country with a 34 percent ‘reciprocal’ tariff as part of his Liberation Day announcement. This is expected to be implemented on April 9.
