President Donald Trumpstariffsare expected to raise the price of just about everything we import.
However, there are ways to dodge some of theincoming price hikescaused by tariffs.
What Are Tariffs and How Do They Work?
Tariffs are taxes the U.S. government places on goods imported from other countries.
Theyre also used during trade negotiations think of them as a financial form of pressure in international discussions.
Already, thestock market has taken a nasty tumbleandlayoffshave commenced.
Struggling to Avoid the Tariffs?
From saving on interest to car insurance, here are a few of our favorite ways to save money.
Which Tariffs Are Currently in Place in the U.S.?
Below are the tariffs currently in place.
How Long Will These Tariffs Last?
Thats the tricky part we dont know.
Trumps tariff policies have caused whiplash.
He has said tariffs will stay until trade deficits with China, the EU and other nations have disappeared.
(A trade deficit is when the value of a countrys imports exceed the value of its exports.)
However, he paused most of his reciprocal tariffs for 90 days in early April.
Hes also said he wants Canada to become the 51st state.
There is no clear end date associated with these tariffs.
Trade Representatives websiteand consumer advocacy groups offer insights on tariff changes, too.
If youre informed, youll know when prices might spike and can adjust your shopping plans accordingly.
Shop Secondhand
Pre-owned goods dodge tariffs completely.
Check out yourlocal thrift shopsand look forquality itemsthat will last.
Bonus: Youll keepusable items out of landfills.
you could also sign up for price-drop or restock alerts on retail websites.
Buy Local or American-Made Products
Products made in the U.S. arent subject to import tariffs.
Look for Made in USA labels, especially on clothing, tools and home goods.
Some smaller American brands even highlight their tariff-free status.
Cut Down on Unnecessary Spending
Nows the time to ask yourself: Do I really need this?
Try the 30-day rule wait a month before purchasing big-ticket items.
Often, youll realize you might do without.
Swap and Barter with Neighbors
Tools, toys,clothes, kitchen appliances we all have things sitting unused.
Keep an eye out for curb alerts in your neighborhood.
Check out local Facebook groups or host a community swap event.
Just be cautious of scams, and never share personal info unnecessarily.
you’re free to even start a garden usingkitchen scraps.
Many libraries now offer free seed exchanges.
And if you need help getting started, consult yourlocal extension office.
Delay Big Purchases When Possible
If prices are high now, they might drop once a tariff ends.
Off-season shopping also yields better deals on clothing, tools and furniture.
But some adjustments can help you mitigate the ripple effects of rising tariffs.
