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What will become more expensive as tariffs take effect?

(NewsNation) — If you've been thinking about buying a new couch, sneakers or even chocolate, the time might be now. The Trump administration's sweeping tariffs will likely result in higher costs for many imported products — and a lot of uncertainty. 'What I wouldn't do is make any big, life-changing purchases or changes in spending based on the current situation, because you just don't know what's going to change next week,' said Rita McGrath, professor at the Columbia School of Business. Will gas prices go up this summer? It's not just imported goods anticipating price hikes, as domestic brands often follow suit to keep pace. Here are some products you might want to stock up on ahead of summer: Sofas and furniture Electronics Home appliances Apparel and shoes Imported foods Need a cheap bedside table or bookshelf? Businesses like Ikea — a Swedish company — will see costs jump due to tariffs. 'Sofas, furniture, home kind of things. Those have been outsourced for decades now,' McGrath said. 'And the ability to make those things at a price Americans would find acceptable in this country is nearly impossible.' The United States imports most of its coffee from Brazil and Colombia, which face tariffs from Trump. While Hawaii does grow coffee, Americans drink more than 200 times the amount that can be grown on the islands. 67% of CEOs surveyed disapprove of Trump's tariffs Similarly, Hawaii is the sole American source of chocolate, with the U.S. importing 80% of its cocoa beans from Latin American countries. Vanilla, predominantly imported from Madagascar and Indonesia, will also see hefty price hikes. Sugar imports primarily come from Latin America and the Philippines. Popular clothing and shoe brands like Nike, Adidas, Gap, H&M and online retailer Amazon rely on factories around the world for production. Fashion in particular is based in Vietnam, Bangladesh and China. A spokesperson from the U.S. Fashion Industry Association told NewsNation the 'stakes couldn't be higher' for the fashion industry. 'Key fashion-producing regions face particularly harsh measures … The fashion industry is bracing for the fallout,' the spokesperson said. As confusion continues over whether certain electronic products, such as iPhones, will stay exempt from Trump's tariffs, overall prices are expected to rise eventually. Spending is already pulling back in the wake of the tariff news. A new study from the Kearney Consumer Institute said tariff concerns are prompting many shoppers to hold off on major purchases. Tariffs will drive up prices of everyday goods from coffee to toys While the White House has delayed some tariffs for 90 days, the fast-approaching reinstatement deadline could see summer prices climb as current inventories run out. For those who frequent fast-fashion marketplaces like Shein or Temu, prices are expected to rise later this week. NewsNation's Steph Whiteside, Brian Entin and The Associated Presscontributed to this report. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.