11 Little Luxuries the Upper Class Won’t Be Able To Afford With Trump as President
Written by
Laura Beck
Edited by
Rebekah Evans
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Remember when that Italian handbag was just expensive? Well, the price could skyrocket and become even more out of your budget. Why? President Trump’s proposed tariffs.
“Trump has stated he will place tariffs on his first day in office,” said tax and finance expert Crystal Stranger, CEO of OpticTax.com. “The bulk of this cost increase will likely be passed on to consumers.”
Here are 11 luxury items that are about to get way more expensive for the wealthy population under Trump according to experts.
Champagne
Those fancy French bubbles and high-end imported wines? They’re first on the chopping block. Stranger pointed out that European beverages, especially luxury brands, could see significant price hikes.
Designer Labels
Got a closet full of Italian leather and French fashion? Stranger said imported designer clothing, handbags and shoes will become even more exclusive — and not in a good way.
Luxury Watches
Those Swiss watches might need a new price tag. With increased tariffs, that Rolex or Patek Philippe could cost significantly more than it already does.
Tech Toys
From the latest smartphones to high-end home theater systems, consumer electronics — mostly manufactured in Asia — are squarely in the tariff crosshairs.
Fancy Kitchen Goods
Those German appliances and fancy Italian espresso machines? Stranger included both “home appliances” and “kitchen goods” on her list of items facing price increases.
Luxury Cars
Whether you’re eyeing a Mercedes or a Lexus, imported luxury vehicles could see substantial price jumps. “Luxury cars” make Stranger’s list of goods likely to see significant cost increases.
Private Jets
Even the ultra-wealthy aren’t immune. Stranger pointed out that yachts and private jets — often manufactured with imported materials or assembled overseas — could face higher prices.
European and Asian Gourmet Foods
That fancy cheese board is about to get pricier. Stranger warned that European and Asian foods will likely see cost increases, affecting everything from truffles to premium olive oils.
Effects of Tariffs on the Economy
While the average American might not shed tears over pricier luxury goods, Stranger’s analysis suggested a broader economic impact. “Since the upper class buys a greater amount of imported goods, this will directly increase their spending on food and items ranging from clothes to cars,” she explained.
Even if you’re not shopping for yachts, these tariffs could create a ripple effect through the economy. When luxury spending drops, it affects everything from retail jobs to service industries. Smart consumers at all income levels should watch these trends closely.
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