Americans stocking up on foreign goods before Trump tariffs: ‘a sense of urgency’
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As inauguration day approaches, consumers scooping up iPads, building supplies, shelf-stable foods and electric cars. Tablets and appliances made in China, hybrid cars built in Canada, European wine. As Donald Trump’s second inauguration as president quickly approaches, Americans are stocking up on goods in anticipation of tariffs Trump plans to place on imports, according to a Guardian reader poll.
Since the election, Trump has promised to immediately impose a 25% tariff on Mexican and Canadian imports, along with increasing existing tariffs on Chinese imports by 10%. On the campaign trail, Trump said he would put tariffs of 10% to 20% on all imports.
Economists widely agree that prices will increase with tariffs. Though the policy is meant to encourage American companies to produce their goods domestically, the global supply chain has become so entangled and interconnected that for many companies, the most simple thing will be to pass the cost of tariffs on to consumers – executives from multiple companies, including Walmart, Columbia Sportswear and AutoZone, have said they will do as much.
In a November Harris/Guardian poll, nearly half (44%) of respondents said they were planning purchases before Trump entering office, while nearly two-thirds (62%) said they were at least adjusting their financial plans for next year. The Guardian asked readers whether they had made or were planning to make purchases in anticipation of Trump’s tariffs. Dozens responded with what they had bought with inauguration day in mind.