Americans Stock Up Before Trump Tariffs Raise Prices

Sunday, January 12, 2025

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%. ... "Everything will go through the roof when [Trump] takes office," said Carol Lee Wood of Virginia, who said she has made more purchases of beans, rice, powdered milk and freeze-dried fruits and vegetables. "I wish I could stockpile gasoline and avocados!"

Posted by retort at 02:33 PM | 9 COMMENTS | permalink

Comments

"Americans stock up"

I did. I just bought a Dell AIO on January 4th to beat the tariff.

#1 | Posted by Twinpac at 2025-01-12 02:44 PM

I'm afraid that it will be impossible to stock enough.

So, Americans give every indication of viewing Donald's economy with dread.

For those of you who voted for your own self-interests, I am sorry.

For all of those of you who voted Donald: this is what you voted for.

... A new report from the Consumer Technology Association (CTA) indicates the tariffs President-elect Donald Trump has threatened to impose against foreign shipments of technology into the US could threaten the products consumers rely on.

Trump, who re-takes office on Jan. 20, recently threatened to impose significant tariffs on technology and other imports from Canada, Mexico, and China. On Nov. 25, for example, he unveiled plans to implement a 25% tariff on all goods from Canada and Mexico, using the measure to pressure the two nations to address illegal immigration and drug trafficking.

Additionally, he proposed a 10% tariff on Chinese imports, citing concerns over trade imbalances and unfair practices.

Specifically, levies on technology product and parts imports could reduce US consumer purchasing power by between $90 billion and $143 billion. That, in turn, could force laptop and tablet prices up by as much as 46% " and potentially cut laptop and tablet purchases by 68%, gaming consoles by 58%, and smartphones by 37%, according to the CTA report. ...

Trump tariffs could raise laptop, tablet prices by 46%, cut sales by 68%

Bunker Bitch has his plan to eclipse his record 15% unemployment rate all mapped out.

15% unemployment rate

#5 | Posted by reinheitsgebot

Some MAGA here inform me that never happened.

@#5 ... Bunker Bitch has his plan to eclipse his record 15% unemployment rate all mapped out. ...

Tangentially related ...

Veterans Still on a Roll in Jobs Market with Low Unemployment Rate of 2.8% in December
www.military.com

... Veterans in the workforce posted another solid showing in the final monthly jobs report of the Biden administration with a 2.8% unemployment rate that was well below the national average, the Labor Department said Friday.

In a sign of the economy's resilience, the 2.8% jobless rate for all veterans matched the rate for December 2023, and once again was better than the 4.1% unemployment rate for the general population last month, which was down a tick from 4.2% in November, the Bureau of Labor Statistics reported.

The subset of statistics for the post-9/11 generation of veterans showed that their unemployment rate, which tends to fluctuate more than other subsets, bumped up from 3.1% in November to 3.9% in December but was still below the 4% rate that most economists view as full employment.

In a statement, Acting Labor Secretary Julie Su said the BLS report also showed that the economy added 256,000 jobs in December, which was "well above market expectations and reflected a robust and resilient labor market." ...