Tariffs are now affecting retail prices of imports; Here's how you can save money
(WHTM) — Tariffs are starting to affect the price of imports, so it may be time to buy sooner rather than later.
Walmart has finally said what a lot of what many stores have been hedging about: Ot's about to start raising prices because of tariffs, but it turns out some retailers are already doing just that.
Some of the first people to notice price hikes in the recent weeks were Temu and Shein shoppers, like Brenda Buschle.
'I buy a lot of stuff for my business,' said Buschle. 'This shirt is from Temu!'
When the new Chinese tariffs hit, she says, prices on some items doubled.
'I had ordered a 3-pack of Capri pants,' said Buschle. 'They were $17, and they went up to $36.'
Days later, we spoke with fish market owner Richard Barlion, who says his suppliers have raised some 10 percent.'Cod has been going up,' said Barlion. 'Halibut, that's Nova Scotia, Canada, swordfish is from Brazil through Mexico.'
It's not just direct from China items, or imported food in your fridge, that are starting to see tariffs, as a number of retailers are now starting to raise prices.
With a 30 percent tariff on Chinese imports and a 25 percent tariff on imported cars:
Ford has just announced price hikes on cars made in Mexico, like the Bronco Sport and Mustang Mach-E.
Stanley Black and Decker says it is starting to raise prices on tools and other Chinese-made items.
Nintendo and Microsoft have just raised prices on gaming controllers and accessories.
CNBC says many Amazon third-party sellers are starting to raise prices. Now, as U.S. warehouses start to run out of pre-tariff items…
'It's eventually going to run out, and they are going to have to raise prices even more,' said Buschle.
If you are on the bubble about a big purchase this summer, you might want to buy it sooner rather than later, so you don't waste your money.
Find more stories on DontWasteYourMoney.com.
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