With the prospect of tariffs once again taking center stage in U.S. trade policy, consumers may face a significant uptick in prices on a variety of products.¹ Tariffs — taxes imposed on imported goods — have the potential to make items like phones, appliances, and electronics more expensive.² 

In fact, it’s estimated that the last tariff-driven trade war cost the average American household $830 a year.³

For the savvy consumer, the key question is: What should you buy now before tariffs possibly return? 

What are tariffs? 

Tariffs are taxes imposed by governments on imported goods. When one country’s businesses import goods from another country, their government may impose a tariff, effectively taxing companies for buying foreign goods instead of their domestic counterparts (which do not come with tariffs). 

Items to consider buying now

If past is precedent, consumers may pay more if tariffs come back in force. Some price increases will be inevitable, particularly for staples like clothing and food. Others might be somewhat avoidable through savvy, time-conscious buying.

If you’re planning to purchase big-ticket items, here are a few categories to keep an eye on:

1. Appliances

From refrigerators to washing machines, half of the home appliances sold in the U.S. are sourced from China.⁴ With tariffs potentially reaching up to 60% on Chinese goods, waiting to buy these items could result in higher prices.⁵ The same applies to smaller household items like coffee makers and vacuums.

2. Electronics (phones, laptops, TVs)

Whether it’s a new phone, laptop, or television up for purchase, the potential for price hikes in the electronics sector is high.⁶ Electronics are heavily dependent on global supply chains, and tariffs on parts or finished goods can increase prices. Consumers planning to upgrade their phone or home entertainment system might want to buy before any new tariffs come into force.

3. Furniture

Many large furniture manufacturers source materials and components internationally. If tariffs are imposed on these imports, furniture prices could rise accordingly. There is a possibility that Americans could pay $8.5 billion to $13.1 billion more for furniture if tariffs go into effect.⁷

4. Aluminum and steel products

Consumers looking to purchase aluminum- and steel- based products may want to brace for higher prices as well. These metal imports are likely to be at the core of any potential trade war between the U.S. and China.⁸ With tariffs still on the table, products that rely on these materials, such as automobiles and certain household goods, could see higher prices.

5. Clothing and textiles

The clothing industry is another sector that could be significantly affected by tariff increases.⁹ Many apparel companies import raw materials or finished garments from countries that are major trade partners. A hike in tariffs could make clothes more expensive, especially for retailers who rely heavily on foreign supply chains.

5. Toys

China makes 79% of the toys sold in the U.S.¹⁰ With tariffs targeting these goods, there could be price increases in the coming year. Higher import fees, and any tariff-related supply chain disruptions, may cause further increases as well. If tariffs on toys stay in place long-term, there may even be a shift in production to other countries. This would have significant ramifications for consumers as the industry adjusts.¹¹

Why buy now?

Although it’s ideal to make purchases at the time an item is needed, buying before tariffs increase can be a smart idea — especially for items that may need to be purchased in the near-term, if not immediately.

Large purchases, such as washing machines and refrigerators, may increase in price significantly compared to others, like toys and clothing. Consumers who know their dishwasher might be near the end of its life cycle, for example, might want to act now instead of waiting.

Tariffs may seem like abstract policy decisions, but their real-world impacts can be felt at checkout. Making strategic purchases now, especially for big-ticket items or products reliant on global supply chains, can help consumers avoid these higher costs while global trade fluctuates.