A growing number of US consumers are stockpiling goods ahead of the Trump administration’s latest round of import tariffs, fearing rising prices and potential shortages. The Tax Foundation estimates that the new levies will cost Americans $3.1 trillion over 10 years.
Thomas Jennings, a 53-year-old shopper from New Jersey, is buying double the usual amount of non-perishable items like beans, canned goods, and flour. He believes there’s a recession coming and wants to be prepared for the worst. Others, such as retired garment industry professional Angelo Barrio, are also stockpiling goods with long shelf lives, including toothpaste, soap, and rice.
The fear of price increases and potential shortages is causing some shoppers to take action, similar to what happened during the pandemic when supply chain disruptions led to product shortages and inflation. However, experts say that while there may be some panic buying, it’s unlikely to trigger a widespread stockpiling frenzy like during COVID-19.
Some consumers are also worried about the impact of Trump’s tariffs on their fixed incomes. Maggie Collins, a 60-year-old health aide, is concerned about the potential price increases and how they will affect her budget. She’s already started making adjustments by opting for cheaper brands, such as Walmart’s shower gels instead of Procter & Gamble products.
While some experts are pessimistic about the impact of tariffs on car sales, Nic Chuenchit, General Sales Manager at Valley Subaru, says that his business has seen an increase in customers discussing the tariffs. However, he remains optimistic, citing the resilience of the car market and consumers’ willingness to buy cars even with tariffs.
As the new tariffs take effect, US consumers are taking action to prepare for potential price increases and shortages, fearing a repeat of pandemic-like stockpiling frenzies.
Source: https://www.reuters.com/business/retail-consumer/some-us-consumers-stockpile-goods-ahead-trumps-new-tariffs-2025-04-08