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Tariffs are taxes created and imposed by governments on imported goods.
Tariffs arent a new concept.
In fact, most countries already have tariffs in place.
Here are five things to buy now beforepotential tariffs come in 2025.
Appliances
Most household appliances, like washing machines, refrigerators and ovens, come from China.
The same goes for smaller household appliances, like coffee makers, vacuum cleaners and other gadgets.
Most laptops, phones and TVs are shipped from overseas, and their prices rely heavily onglobal supply chains.
If you plan to upgrade your home entertainment system or phone, now might be a great time.
Aluminum and Steel Products
China is one of the main hubs for sourcingaluminum and steel products.
Clothing
The clothing industry is another sector that is heavily based overseas.
Tariffs could make clothing more expensive, even at your favorite local retailer.
If your child has been eyeing a toy, consider purchasing it now to save for later.
Higher import fees can disrupt supply chains and make toys more expensive.
Similarly, as the supply of toys decreases, demand will increase, further hiking prices.
Consider stocking up for birthdays, special events and even Christmas next year.
Large items, like a refrigerator, will likely increase more significantly than a small toy.
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