6 Luxuries To Give Up This Summer If Tariffs Are Wrecking Your Budget
Written by
Jordan Rosenfeld
Edited by
Molly Sullivan
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While it has been challenging to keep up with which tariffs imposed by President Donald Trump are in effect on what trading partner and when, the undeniable result is that many companies have raised prices on everything from food and clothing to hotels and other leisure related goods.
If your budget is suddenly tighter as a result and you’re looking at your summer plans and purchases with a more critical eye, here are some suggestions for some summer luxuries to pare back on if these tariffs are wreaking budget havoc. (Hint: If the word “imported” or “designer” is involved, scale back.)
Imported Fruits and Cheeses
Who doesn’t love a charcuterie board for a summer meal — you don’t have to cook and you can bring it to an event looking like you worked all day in the kitchen. Unfortunately, some of the fruits and cheeses that look best on such a board are going to be facing price hikes right now. Instead, look for local deals from farmer’s markets.
Designer Sunglasses
A lot of people have been learning the hard way that their favorite designer brands are often having their merchandise made in China, keeping it somewhat affordable. As a result, if you love a good pair of designer sunglasses, this is not the summer to get a new pair. Make good with the ones you have or pick up a less fancy pair for a better price.
Fashion Forward Bathing Apparel
Apparel is one of the consumer areas hit hardest by the tariffs, since the vast majority of what Americans wear on their bodies and feet is made overseas. So slow your roll on a fashion-forward bathing suit that comes from a cute little boutique and look to the places that can still cut deals, like TJ Maxx or Ross Dress for Less.
A Smartwatch or Fitbit
If summer is a time when you pad yourself with the accoutrements of fitness since you can spend more time outdoors, you might want to rethink that, too. Smartwatches and Fitbits may be more expensive than usual. Look into refurbished, secondhand or stick with what you’ve got until prices level off.
Imported Wine or Spirits
You don’t have to stop drinking wine or spirits, but you might find it’s a lot pricier to buy your favorites if they’re coming from overseas. Scotch whisky, French or Italian wine, even spirits made in Canada and Mexico may now cost you a lot more than you were hoping to spend. Alternately, it’s a great time to indulge more in nonalcoholic treats.
Souvenirs
If you’re traveling this summer and love to pick up souvenirs wherever you go, you might want to think twice about carrying home armloads to your friends and family. A single memento to help you commemorate the trip might be enough, or perhaps your photos and memories will suffice.
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