Your budget might feel the impact of the next round of tariffs sooner and more keenly than with previous tariffs.
President Donald Trump recently announced that the U.S. plans to levy an additional 10% tax on $300 billion worth of goods imported from China. But unlike previous tariffs, which focused on goods that are parts for the manufacture of other things, the new batch of tariffs falls heavily on finished goods, according to CNN.
This new round of tariffs will kick in on Sept. 1, Trump said. So, while some companies may still successfully plead for exemptions, many household items and holiday gift favorites stand to be hit with new ongoing taxes next month.
Since those additional costs could be passed on to consumers, now is the time to stock up on anything you need that may face fresh tariffs. Here is a look at some of the things that may soon increase in price.
1. Office and school supplies
The latest round of tariffs could take effect at a time of year when many parents look to save money — getting kids geared up for another year of school.
The list of goods set for tariffs specifically includes office or school supplies made of plastic according to Sandler, Travis & Rosenberg, a law firm specializing in international trade. The list also includes:
It’s not just iPhones assembled in China that are likely to be hit by tariffs. The proposed list includes telephones for cellular networks as a whole.
Cellphone prices could rise by 14%, according to a June report compiled for the Consumer Technology Association. That would mean that the average retail price for a cellphone ($492) would increase by nearly $70.
3. Baby products
More bad news for parents, especially new ones: Lots of products for young children are on the proposed list of tariffs. They include:
- Nursery monitor systems
- Child safety seats
The Juvenile Products Manufacturers Association has warned its members that pending tariffs will likely “be broad with few exceptions.”
A wide variety of toys — for children and pets alike — would be covered by a few broad categories on the proposed tariffs list. Consumers could soon be paying 30% to 40% more for toys, a toymaker executive recently told The Washington Post.
Not only will toys get more expensive, so will the batteries needed to get many of them up and running. Nickel-cadmium, lithium-ion and lead-acid batteries all appear on the list of proposed tariffs.
All kinds of footwear appear on the proposed list for tariffs. With 70% of shoes sold in the U.S. coming from China, the industry is bracing for a hit, CNBC reports.
Industry analysis suggests a 10% tariff could bump up the consumer price of popular canvas sneakers from $49.99 to $58.69 and that of running shoes from $150 to $187.50, according to CNBC. More than 170 shoe retailers and brands have asked the Trump administration not to raise tariffs on footwear.
7. Winter clothing
It might still be summer, but if you want to save on clothing for the colder days ahead, now’s the time to buy. Included in the list of goods for proposed tariffs are many lines of:
8. Laptops and tablets
Many electronic products, and their parts, appear on the proposed list for new tariffs. The Consumer Technology Association says to expect increases in the prices of these well-loved consumer favorites.
Laptop and tablet computer prices could rise by 19%, according to the June report compiled for the CTA. That would mean the average retail price for a laptop ($622) would increase by about $120, and that of a tablet ($264) would increase by $50.
9. Video game consoles
China accounts for more than 96% of imported video game consoles, and there is very little production of consoles in the U.S., according to the Consumer Technology Association. As a result, nearly all of the higher cost of tariffs on consoles would be passed on to consumers.
The CTA expects prices in the U.S. would rise by 19% for this popular holiday gift. That would increase the average retail price for a video game console ($294) by $56.
The Consumer Technology Association also points out that drones for children and adults that sell for less than $500 likely would fall under the tariff category of “toys, including riding toys other than bicycles, puzzles, reduced scale models.”
The CTA expects the new tariffs on this category of goods to push up prices of toy and “starter” drones by 15% overall, or by $61 for a drone at the average retail price of $404.
Digital still image video cameras, as well as old-school instant-print and film cameras, appear on the proposed list of goods facing the new tariffs. Photography accessories and parts are also included.
12. Bedding and other linens
Also included on the list of products facing new tariffs are:
- Bedspreads, blankets, quilts and comforters
- Pillows and cushions
- Curtains, drapes and valances
- Kitchen linens
- Bath linens
Many kinds of cutlery, drinking glasses, and porcelain and china tableware all appear on the proposed list of products that would be affected by new tariffs on Sept. 1.
Corrective glasses, sunglasses and contact lenses, as well as noncorrective glasses, that originate in China appear on the proposed list.
On the day Trump announced the new round of tariffs, trade group The Vision Council said:
“The chance of optical products being removed from the final list is not likely, and companies should plan accordingly.”
15. Watches and clocks
Numerous timekeeping devices — including wristwatches, clocks and alarm clocks — are included on the proposed list of Chinese goods facing new tariffs. Hourglasses and sundials aren’t specifically mentioned.
16. Musical instruments
The list of goods facing tariffs includes a number of categories of musical instruments, ranging from accordions to grand pianos — and their various accessories.
The proposed list of goods includes “Printed books, brochures, leaflets and similar printed matter,” a wide-ranging category that covers everything from maps and calendars to postcards and greeting cards.
But one of the biggest impacts may be on America’s most-sold book, the Bible. As many as 150 million bibles are printed in China each year, PBS reports. The report cites religious publishers’ concerns that more expensive Bibles could hurt the efforts of Christian charitable organizations that give the holy book away as part of their ministry.
18. Fishing and sports gear
Fishing rods, hooks and line appear on the proposed list of goods facing the new tariffs. So does gear for a variety of other sports and outdoors activities, ranging from skis and ice skates to tents and camping goods.
Fireworks — as well as signaling flares, matches and other explosives — from China (where historians say fireworks were invented) are set to be taxed more by the new tariffs.
20. Home entertainment
Planning any additions to your home entertainment system? Don’t wait for Black Friday, because TVs are also included on the proposed list of goods to be hit by the new tariffs on Sept. 1.
21. Home improvement
Speaking of additions, think about the rest of your home. A wide variety of potential home upgrades are also on the proposed tariff list, including:
- Ceiling fans
- Kitchen appliances such as ovens, stoves and dishwashers
- Washing machines and dryers
22. Certain motor vehicles
While the proposed tariff list doesn’t have categories quite as broad as “things with wheels,” it does include all of the following:
- Golf carts
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