Don't Panic! Podcast
You’re probably a little tired about hearing about tariffs—but they’re about to hit stores, and experts say it may lead to empty store shelves and higher prices on goods, especially from China. (China had the largest tariff placed against it, at 145 percent of the total cost, which means that a $10 toy produced in China will now run $24.50.) The last of the container ships that left China before the tariffs hit have now reached U.S. ports, and the number of container ships coming into port since then has dropped significantly. So that definitely has people worried—especially if they have essential purchases in the not-so-distant future, such as gearing up for a baby, sending a kid off to college (like me!), or a home repair. Determine the Potential Impacts of a Tariff on Your Life The New York Times [https://www.nytimes.com/interactive/2025/04/27/world/asia/china-products-us-tariffs-trump.html?rsrc=flt&unlocked_article_code=1.D08.pwZV.ksHb01cejEu8&smid=url-share] had a great piece that walked you through a home and talked about what products are almost exclusively from China, and which come from other countries. It’s worth taking a quick look to see what products may have the biggest impacts from the tariffs. Some that might have an impact on you right now: * Kitchen appliances * Dishes * Air conditioners * Toys * Baby gear * Shoes * Electronics * Air conditioners Note that many experts say that the full breadth of the tariff impact is going to be difficult to gauge until it happens. For instance, cars may go up in price as even U.S. made cars will rely on some parts manufactured in China. Post-show note: We mentioned that food products probably wouldn’t be impacted as much, but there are actually quite a few foods that come from China, including some of the things you’d probably expect, such as sauces and oils used in Asian cooking, but also some things you wouldn’t—like meat products, snack foods, and a lot of apple juice [https://www.wired.com/story/apple-juice-shortage-tariffs/]. You may want to check out any grocery staples in your house for their country of origin, and if it’s China, you might want to consider stocking up a bit. Prep Now to Minimize the Financial Fallout From the Tariffs Experts suggested that we have about two to six weeks before the last of the pre-tariff inventory is sold, which may mean fewer choices, higher prices, or both. So now is the time when you’ll want to consider stepping up purchases that need to be made within the next few months, if you have the financial wherewithal to do it. Even if (and when) tariff agreements are reached, it will take time for the factories to ramp up production again, and time for the container ships to bring things here. Figure about a two-month timeframe for all of that to happen. Think through your summer and early fall. Check your calendar for any big events on the horizon. If there are essential purchases you need to make, like a baby shower gift or a new pair of hiking boots for vacation, you may want to make them within the next few weeks so you’re ready to go. Assess the health of any big-ticket items in your home—especially ones that may come exclusively from China. If your fridge has been acting funny or you have an air conditioner that’s on its last legs—it may be the time to buy now, before the price hikes hit. Get creative with your gift giving. Mother’s Day, Father’s Day, graduations, weddings—odds are, you’ve got something you’re in need of a gift for. Consider skipping the stuff, and opt for experiences that’ll help you create memories with your loved ones, or if you’re crafty, a handmade gift is always an option. (There are a TON of crafting videos online to get you started. All you need is a little yarn and a dream!) Support small businesses. While large retailers will have the cash reserves or access to additional funding to soften the blow to their bottom line, small businesses may have a harder time covering the tariffs to get the items to sell you in the first place, or raising their prices enough to cover the shortfall. Any time is a good time to buy small, but especially now. Do a smaller, gentler stock-up. No, you won’t need cases of toilet paper, so don’t turn your home into a Costco by clearing the shelves in your local area of a lot of essentials. (NO need to be greedy!) That said, it’s good to have some reserves of anything that you would be hard-pressed to live without. (Jen’s focused on olive oil, while I realized I need some extra Asian cooking condiments on hand.) Look in less-expected spots for items that are in demand. Think back to your learnings from the early Covid-era shortfalls, and get creative with where you look. I was buying pasta by the case from World Market and groceries from a restaurant supply store. You might be able to do the same this go-round—many home stores also sell food or toys, and you can get basic electronics at pharmacies or grocery stores. Jen mentioned after we recorded that many contractors often clear out appliances that are still in working condition—so make friends with one in your neighborhood if your stove is looking a little worse for the wear! Borrow, don’t buy. There may be no such thing as a free lunch, but there are plenty of places where you can borrow items you might need. Many libraries now also loan out things like cake pans, garden tools, or even museum tickets in addition to the traditional media. Buy Nothing groups are great for giveaways, but many people will also loan out items on a temporary basis. And don’t forget your neighbors—whether you need a cup of sugar or a set of folding chairs for an evening. Buy secondhand. Thrift stores, charities, garage sales, and secondhand markets online are great places to find things you need, often at a steep discount compared to what you’d pay—even pre-tariff! P.S. This is your reminder that you probably have a lot of stuff in your own house that you’re not using. Consider decluttering and posting items for sale, holding your own garage sale, or simply giving items away on a Buy Nothing group. Fix it up yourself. Rather than tossing a ripped sweater or a broken lamp, see if you can follow a DIY video to fix the item instead. (I’ll be gluing up an “vintage” purse from my own prom for my daughter to tote along with her to hers.) Do a little research in your community—a town near us offers a fix-it clinic where experts are on hand to help you fix your items, so you get a little in-person expertise to get the job done. Deep Dive on Tariffs and Their Impact If you want to read even more, check out these stories that helped inform our podcast: The last boats without crippling tariffs from China are arriving. The countdown to shortages and higher prices has begun [https://www.cnn.com/2025/05/01/business/ports-shelves-tariffs-shipping], CNN Financial advice in times of uncertainty [https://www.npr.org/2025/04/30/nx-s1-5371631/anxious-about-your-money-right-now-financial-advice-in-times-of-economic-uncertainty], NPR Your home without China [https://www.nytimes.com/interactive/2025/04/27/world/asia/china-products-us-tariffs-trump.html?rsrc=flt&unlocked_article_code=1.D08.pwZV.ksHb01cejEu8&smid=url-share], New York Times Retailers fear toy shortages at Christmas as tariffs freeze supply chain [https://www.nytimes.com/2025/04/29/business/trump-tariffs-christmas-china.html?unlocked_article_code=1.FE8.Or_v.F9Olq3PMakYt&smid=url-share], New York Times This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit dontpanicpodcast.substack.com [https://dontpanicpodcast.substack.com?utm_medium=podcast&utm_campaign=CTA_1]
6 episodios
Comentarios
0Sé la primera persona en comentar
¡Regístrate ahora y forma parte de la comunidad de Don't Panic! Podcast!