Sun, 13 Apr 2025

Sun, 13 Apr 2025 'I can't keep up': Trump's changing tariffs leave shoppers feeling paralysed

The rapid change of Trump's tariff policy has shoppers wondering if they should stock up or just wait this out.

* A New Yorker bought a new iPhone after his camera stopped working due to the threat of tariff-fuelled price hikes.
* Some people are trying to stock up on essential items, such as food and clothing, but many are unclear about how to proceed.
* The average effective tariff rate on imports in the US is at its highest level in over a century.
* Tariffs could lead to higher prices for clothing (up to 60%), pharmaceuticals (12%), and food (2.6%).
* A typical US family could see costs rise by $4,700 due to the new taxes.
* Retailers have seen an increase in visits and purchases before and after the tariff announcement.
* Consumers are buying extra goods, but some analysts expect this behavior to be temporary.
* If price rises start to hit, many economists predict Americans will opt for cheaper substitutes or delay purchases.
* The US economy is expected to grow at a slower rate (0.5%) due to the tariffs, with unemployment rising to 5%.
* Some firms forecast an outright recession.
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