There is a chance that Donald Trump’s tariffs could trigger a recession within the United States with his tariff plans. In times of financial strain, many people look to improve their homes and increase the value of their most valuable asset. That could become more difficult in a tariff war environment where products could be hard to find. These home essentials could be hard to come by in the coming months.
1. Appliances
There was a significant disruption of the global supply chain during the COVID-19 pandemic, and as a result, appliances practically disappeared from the shelves. Things could get even worse during a tariff war, which could lead to both supply chain issues and drastic price increases. If you need an appliance, now is the time.
2. Appliance Parts
You may not need to replace an entire appliance in your house, but just a replacement part. If that is the case, you should do that sooner rather than later. Appliance parts will be affected just as much as the machines.
3. Lumber
With warm weather coming, many people will want to take on a new project outside of their home, and those projects often require lumber. A large percentage of the lumber used in the United States comes from Canada, and Trump has targeted the U.S.’s northern neighbor with his tariffs.
4. Yarn
Crafters who use yarn in their projects will be affected by the looming tariffs. A significant percentage of yarn is produced in countries such as Vietnam and China. Even American manufacturers of yarn may be affected by these measures, as fibers and dyes may be sourced from overseas.
5. Automobiles
This is clearly a larger-than-normal purchase, and people may want to avoid buying cars if tariffs are in place. It is important to remember it may not just be cars going up in price, but also many components that might be needed for repairs.
6. Rugs and Curtains
The textiles used to create so many of the products in a home are created overseas and are subject to potential tariffs. This could be seen by homeowners who want to replace curtains or rugs within their house.
7. Nuts and Bolts
A homeowner who wants to redo their back deck or front porch could be hit in several ways in this purchasing environment. Not only are many types of lumber going to be subject to tariffs, but so are many of the nuts and bolts needed to attach them.
8. Cell Phones
The biggest names in cell phones have gotten their customers used to buying a new phone every two or three years, offering monthly payment plans. No one is currently making cell phones in America, and they could see heavy price hikes, so they could soon be out of reach of many Americans.
9. Mattresses
Buying a new mattress can be a life-changing experience, as it could help you to sleep faster and more soundly. If you are in need of a new mattress during the tariff war, it could spell trouble, as many of the components inside the product come from overseas.
10. Laundry Detergent
People should be focused on picking up non-perishable items that could see a price increase but will also last for quite a long time. One consideration should be laundry detergent pods, as Procter & Gamble says that it anticipates raising prices in July.
11. Toilet Paper and Paper Towels
As was seen during the COVID-19 pandemic, the country’s stock of paper towels and toilet paper could be exhausted very quickly. Whether that can happen again is unclear, but if people have the space, it makes sense to keep a stock of these two items.
12. Air Fryers
Many Americans already own an air fryer, which has become an indispensable piece of their kitchen, but some haven’t yet jumped on board. In addition to rapidly making food delicious, air fryers also save energy, as they use much less power than an oven.
13. Household Tools
Tariffs could potentially hit not only building materials but also the tools used to assemble them. Black & Decker, which makes nearly every kind of home tool available, has said that it will likely have to raise its prices.
14. Indoor Furniture
New furniture is typically a relatively major purchase that people plan out ahead of time. Many furniture brands, however, may be impacted by the new tariffs, with raw materials and textiles coming from overseas. Now might be a good time to splurge on that sofa set before the price goes through the roof.
15. Patio Furniture
Choosing to renovate the outside of your home rather than the inside is not likely to save you any money on your patio furniture. Specific products may be more affected, including tables and chairs made from steel, wooden plant stands, and furniture made from wicker.
16. Diapers
New parents are already looking at plenty of new costs, but luckily for them, many of these items are non-perishable, meaning that you can stock up on them before potential tariffs hit. This includes diapers. Even if the diapers are assembled in America, many of the components come from China, India, and Vietnam.
17. Cookware
When people are doing a renovation in their kitchen, they may look to replace their pots and pans as well. This could end up being costly, as many of these products are made overseas. One exception is Lodge cast iron pans, which have always been made in the U.S.A.
18. Alcohol
Doctors may not like it, but for many people, alcohol can be considered a home essential.
People who like wine or booze from different countries may want to take the opportunity to stock up, as many wines, tequilas, beers, and other spirits come from overseas.
19. Conclusion
Whether they are made overseas or made in the United States from raw materials sourced from overseas, a large number of products will see price increases in a tariff war environment. While you cannot completely prepare for these potential changes, these are some items you may want to purchase beforehand.