The countdown to tariff trouble has started
America, prepare for a significant increase in the cost of your favourite products on August 1.
President Donald Trump’s rollercoastering style of trade policy is making another dramatic turn. After months of dithering, ratcheting up, and last-minute backpedalling, the long-dreaded import tariffs are finally arriving. And this time, in contrast to past threats, this one is looking to endure—at least for a while.
Millions of American consumers and businesses are already in a sweat, and they should be. Trump’s tariffs will increase the price of everyday essentials, ranging from apparel to electronics to household items. If you like your iPhone, your Air Jordans, or your back patio grill—watch out, you may have to hold your breath (or your wallet).
Let’s dive into what’s going to cost more, what’s getting hurt, and why this will matter in your everyday life.
Wait, what’s a tariff again?
All right, let’s just have a super quick refresher. A tariff is an import tax. Think of it like a toll on the border. If something is made somewhere else and brought into the U.S., the government applies a fee to it. You, the buyer, typically bear the brunt of this cost.
Trump argues that tariffs protect American companies by making consumers buy American-made goods. Critics argue that tariffs act as a surreptitious tax on working-class families, particularly when the U.S. no longer manufactures these goods.
Trump’s tariff history: A policy ping-pong match
If Trump’s trade policy had a soundtrack, it would resemble the flickering of a light switch. Since April, when Trump happily declared it “Liberation Day,” he has dallied and finessed tariffs like a reality TV spin of fortune.
At one point, Chinese imports were hit with tariffs increasing from 10% to 145% before stabilising again at 30%. Some countries were threatened, then pardoned, then threatened once more. By July, the business community had whiplash, and most Americans had no idea what was next.
But now, the 90-day wait is up. Unless a last-minute agreement is reached (and don’t hold your breath), tariffs go into effect August 1—and this time, they’re not backing down.
The products that will experience the biggest price increases
Let’s get to the bad news. Here are some of the highest categories of products that will increase in price, beginning this month:
Electronics and smartphones
- iPhones, Androids, tablets, smartwatches
- TVs, speakers, Bluetooth devices
- Game consoles and accessories
Apple, Samsung, and the rest of the tech giants source most of their hardware from Asia. Even the slightest tariffs equal hundreds of dollars more for consumers. New iPhones will likely come with higher prices—or fewer features to make up for the cost.
Shoes and Apparel
- Sneakers (yes, your Air Jordans are included)
- Jeans, t-shirts, hoodies, and dresses
- Outdoor gear and jackets
Most of the clothes and shoes in the U.S. are manufactured in the likes of China, Vietnam, and Bangladesh. A 30% tariff could mean an extra $10–$50 per product, depending on the brand. Shopping for back-to-school just got a whole lot more painful.
Kitchen and household items
- Cookware, cutlery, and tools
- Microwaves, blenders, air fryers
- Furniture, lamps, and home decor
Whether it’s outfitting your dorm room or upgrading your kitchen, costs are going up. Retailers are already skimming dollars off new arrivals to cover oncoming tariffs.
Automobile parts and tools
- Batteries, brake pads, filters
- Tires, wiper blades, and tire accessories
You might not be purchasing a new vehicle, but the maintenance is about to cost more. That oil change? Yes—likely heading up too.
Toys and games
- Puzzles, dolls, board games
- Building blocks, action figures
- STEM toys and learning kits
Parents are already pinching pennies for school, but if you’re purchasing birthday or holiday gifts in bulk, be prepared for sticker shock.
Why tariffs hurt working families most
This is the bad news: tariffs don’t hurt everyone equally.
For wealthy Americans, spikes in electronics or designer footwear are annoying but manageable. For working- and middle-income families, though, they can shatter budgets.
Groups like the Institute on Taxation and Economic Policy argue that tariffs represent a regressive tax—one that affects lower-income families, who spend a greater percentage of their income on goods and necessities, disproportionately severely.
As politicians negotiate trade wars, ordinary Americans bear the financial consequences.
Companies are panicking
Retailers aren’t pleased either. Large-box retailers like Walmart, Target, Best Buy, and Nike have already indicated that prices will rise should tariffs continue to occur.
Some are rushing to move supply chains out of China to avoid the added costs—but that takes time, and not every product can be easily rerouted. Small businesses are especially vulnerable, as they don’t have the resources to absorb new taxes or shift suppliers quickly.
Consumers will see higher prices. There’s no way around it,” one Florida-based retailer said. “We’re already changing our pricing strategy for fall.”
But didn’t Trump say tariffs would benefit America?
Yes. Trump’s case is simple: tariffs punish other countries (in particular China) for poor trade behaviour and force them to offer the U.S. better bargains. He’s also promised that American factories will be functioning in no time as Americans shift towards local production.
But to experts, the global supply chain is more complicated than that. It’s not just a question of where something is made—but where the parts are manufactured, who assembles them, and where it’s shipped.
Or, to put it another way, it’s complicated.
Read this later:
The politics of the policy
Trump’s tariffs are more politics than policy.
By imposing tariffs, Trump is doubling down on his “America First” agenda and mobilising his base. He believes strong trade measures are political winners—especially among voters who feel they’ve been left behind by globalisation.
But even inside Trump’s party, there is resistance. Some Republicans worry tariffs can hurt small businesses and fuel inflation, all while alienating global trading partners.
What can you do?
You can’t avoid the tariffs, but you can shop smart. Here’s how:
- Buy now: If you’re contemplating a high-priced item such as a TV or computer, it’s advisable to purchase it before the price hikes in August take effect.
- Purchase domestically: The tariffs won’t affect goods made in the United States.
- Take advantage of bargains: Stores may be holding sales to mitigate the impact.
- Stick to your list: Thrifty shopping is your strongest defence.
And if you’re feeling the pinch severely, get in touch with lawmakers—tariffs are government policy, but they’re not enshrined in legislation.
Ready or not, here come the tariffs
Whether you loathe or adore Trump’s trade policy, one thing is certain: beginning August 1, life’s going to cost more for tens of millions of Americans. From gizmos to groceries, costs are going up—and so’s the anxiety that comes with them.
So stock up while you can, check your receipts, and buckle up for a bumpier trip down the shopping aisle.
Your wallet might not like it—but at least you now know what’s coming.
