3 Things You Shouldn’t Panic Buy in Anticipation of Tariff Price Hikes
Written by
Gabrielle Olya
Edited by
Molly Sullivan
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As tariffs take effect, it’s likely that the cost of many goods will tick upwards — and most Americans are changing their shopping habits in anticipation. A recent survey conducted by Bid-On-Equipment found that 67% of Americans plan to change their shopping habits as a result of tariffs, with over 10% saying that they are stockpiling products over potential tariff concerns.
However, panic-buying items to avoid tariff price hikes isn’t always the best financial decision. Here’s a look at the things you shouldn’t preemptively buy due to tariffs.
Flour, Sugar and Corn Meal
While some pantry staples are largely imported and therefore could be subject to price hikes, there’s no reason to stockpile food items that are produced domestically.
“Imported pantry items that can be stored and kept fresh are good candidates for advance purchase, [but] things that are largely produced domestically — things like flour, sugar, corn meal or other domestically produced grains — should not be,” said Joe Adamski, supply chain expert and senior director at ProcureAblility.
Fast-Fashion Clothing Items
Buying cheap clothes you don’t need isn’t a wise financial decision — even if those items will be more expensive in the future.
“Fast-fashion and other seasonal items should probably be avoided unless you were already planning on making those purchases,” Adamski said.
Unnecessary Big-Ticket Items
Don’t make large purchases you don’t need or can’t afford just out of fear that prices will go up.
“Impulse buying of expensive consumer goods should be avoided,” Adamski said. “However, if you were planning to get a new cellphone, electronics, appliances or other durable goods, most all of which is imported, it is likely a better bet to buy them now versus waiting.”
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