8 Things You Should Buy Before Trump Becomes President
Written by
Rafaela Stalbalk Klose
Edited by
Rebekah Evans
Commitment to Our Readers
GOBankingRates' editorial team is committed to bringing you unbiased reviews and information. We use data-driven methodologies to evaluate financial products and services - our reviews and ratings are not influenced by advertisers. You can read more about our editorial guidelines and our products and services review methodology.
20 Years
Helping You Live Richer
Reviewed
by Experts
Trusted by
Millions of Readers
President-elect Donald Trump is set to implement significant changes to U.S. trade policies upon assuming office on January 20. One of the most impactful proposals includes replacing income taxes with sweeping tariffs. According to The Washington Post, the plan outlines a universal tariff of 10 to 20% on all imports, with additional tariffs targeting goods from China, Canada and Mexico — the United States’ largest trading partners. This shift is expected to increase the prices of everyday items such as sneakers, electronics, toys and groceries, affecting both consumers and businesses domestically and internationally.
To mitigate the financial impact of these potential price hikes, consider purchasing the following essential items before Trump’s presidency begins.
Gaming Consoles
Gaming enthusiasts should act swiftly as Trump’s proposed tariffs on Chinese-made goods are likely to cause significant price increases for gaming consoles. Leading brands like Xbox, PlayStation and Nintendo Switch are primarily manufactured in China, making them susceptible to higher import fees. Purchasing a new console or upgrading an existing one before the implementation of tariffs can result in substantial savings, avoiding the anticipated steep price hikes.
Toys
The introduction of a 60% tariff on Chinese-made products is poised to dramatically increase toy prices. Most major toy brands rely heavily on Chinese manufacturing, according to CNN, placing them directly in the path of higher import fees.
While some manufacturers might absorb a portion of the increased costs, the majority will likely be passed on to consumers. Purchasing toys for upcoming holidays or birthdays before the tariffs take effect can help families avoid the financial burden of more expensive toys.
Groceries
Trump’s plan to renegotiate trade deals like NAFTA and impose new tariffs on imported goods is expected to rapidly increase grocery costs. Approximately 20% of fruits and vegetables consumed in the U.S. are imported from countries such as Mexico and China, as reported by CBS News. Tariffs on these imports could lead to higher prices for popular items like mangoes, pineapples and other tropical fruits. Stocking up on essential groceries before the tariffs are enacted can help households manage their budgets more effectively.
Smartphones
Flagship smartphones are another category likely to experience significant price increases under Trump’s proposed tariffs on Chinese-made goods. Many smartphone components are sourced from China and manufacturers may pass these additional costs on to consumers.
With estimates suggesting prices could jump by up to 25.8%, a $1,000 device might rise to $1,258, according to data by Tom’s Hardware. Purchasing a new smartphone before the tariffs take effect can help consumers avoid these substantial price hikes.
FootwearÂ
The majority of shoes sold in the U.S. are imported from countries like China, Vietnam and Indonesia. Trump’s plan to renegotiate trade deals and impose new tariffs on imported footwear could result in noticeably higher prices for sneakers, sandals and dress shoes.
Consumers looking to update their shoe collections should consider buying before tariffs increase costs in 2025, ensuring access to affordable and stylish footwear.
Construction Material
Essential construction materials for homebuilding are vulnerable to price increases due to Trump’s new tariff plans. Many construction companies rely on imported supplies, especially from China, making metals, coatings and mechanical, electrical and plumbing (MEP) components particularly susceptible.
Increased tariffs could lead to higher costs for plumbing fixtures, HVAC parts and red iron steel — a common structural material — thereby pushing housing costs higher for everyone. Homebuilders and renovators should secure necessary materials in advance to avoid these potential price hikes.
Cars
China stands as the world’s largest car manufacturer, as reported by The New York Times and the introduction of new tariffs on Chinese vehicles could significantly raise car prices in the U.S. Analysts predict that Trump’s proposed tariffs could increase car prices by as much as $2,500.
This rise will impact both personal vehicle owners and commercial fleet operators, making transportation more expensive for individuals and businesses alike. Purchasing or leasing a vehicle before tariffs are implemented can help mitigate the financial impact of higher car prices.
Medication
A substantial portion of active pharmaceutical ingredients (APIs) used in U.S. medications are imported from countries like China and India, according to NBC News. Trump’s tariffs on these imports could lead to increased costs for both generic and brand-name medications. Additionally, supply chain disruptions may result in shortages, reducing access to essential drugs. Patients and healthcare providers should consider stocking necessary medications before tariffs take effect to ensure continued access and affordability.
Editor’s note on political coverage: GOBankingRates is nonpartisan and strives to cover all aspects of the economy objectively and present balanced reports on politically focused finance stories. You can find more coverage of this topic on GOBankingRates.com.
More From GOBankingRates
