As President Trump’s new Liberation Tariffs take hold on the global economy, expect price shocks in every category. Long supply chains already under strain while recovering from Covid and wars now have a new threat, a tax on imported goods. For those accustomed to shopping for low priced goods, that may become an expensive past-time. Those popular Influencer Shein Hauls will soon be out of fashion, dated content. Clothing prices from t-shirts, jeans and sneakers will jump because most are made in Asia. Down trade for that next celebration, grab a bottle of Prosecco, not Champagne. The French bubbly’s price may rise to $200 a bottle.
Even household name giant Apple expects a price increase of over 40% for its iPhone. The cheaper models at a base price of $800 could go to $1200.
As the American leader shows no signs of backing down, digging in his polished heels, buyers need to prepare themselves for a new shift in consumption.
A crisis always offers a moment to rethink. Perhaps it is time to buy less, buy better, make it lasts.