Five items to buy now before Trump’s tariffs take effect on August 1st

New tariffs announced by Donald Trump will take effect next month, prompting financial experts to urge consumers to buy certain goods before prices rise. These trade measures have been a key focus of Trump’s second term, triggering stock market fluctuations since their announcement in April.

Dubbed ‘Liberation Day’ by Trump, the tariffs caused immediate economic ripples, although their delayed enforcement has prolonged uncertainty in the markets. While some trade agreements have followed, including one with the UK, the incoming tariffs are expected to significantly affect consumer prices.

According to Forbes, one of the most impacted areas will be technology. Items such as smartphones, laptops, televisions, and printers may soon become more expensive. Due to the unpredictability of these hikes, it’s advised to purchase tech goods now.

Furniture is another category likely to be hit. With around 75% of U.S. furniture being imported, the price of everything from sofas to office desks is expected to climb unless domestic production increases.

Textiles, including shoes, men’s shorts, towels, and handbags, could also become costlier. These items are largely manufactured overseas and will be affected by the new trade penalties.

Food might see the most noticeable impact. In 2023, the U.S. imported over $45 billion in food products from Mexico alone. With tariffs now targeting fruits, vegetables, and nuts, grocery bills may soon rise.

Home appliances such as fridges, washing machines, and dishwashers have already been impacted by steel tariffs. New measures could drive prices even higher next month.