If you’ve been delaying that big purchase—whether it’s a new sofa, the latest smartphone, or a kitchen appliance—you might want to reconsider. Major price increases are looming, and acting quickly could save you a lot of money.

President Donald Trump is pressing forward with a new wave of tariffs set to begin next month, and the consequences for American shoppers could be significant. While the administration calls this move a step toward economic “liberation,” the reality for consumers will likely mean higher costs on everyday goods.

When the tariffs hit

According to Trump’s own statements on Truth Social, tariffs will officially take effect on August 1, 2025. The deadline is firm—there will be no extensions or delays. Businesses importing goods into the U.S. will be required to pay these new tariffs starting on that date, which means higher expenses will almost certainly be passed down to customers.

It’s important to understand how tariffs work. Contrary to popular belief, these taxes are not paid by foreign companies but by American importers who bring goods into the country. This means the extra costs end up on U.S. businesses, which then typically raise prices for consumers.

Six categories to watch

Experts have pinpointed six key types of products likely to feel the pinch first—and these are items many people rely on every day.

1. Electronics:
If you’re thinking about upgrading your smartphone, laptop, or television, sooner is better than later. Although it’s unclear exactly how much prices will rise, the looming tariffs could cause cost increases across the board for tech products. Even accessories like printers and computer peripherals could become more expensive once tariffs kick in.

2. Furniture:
The majority of furniture sold in the U.S.—around 75%—is imported from overseas. This includes dining tables, office desks, and bed frames. Without a significant boost in domestic production, expect to pay noticeably more for these items in the near future.

3. Apparel and textiles:
You might not immediately think about clothes and household textiles when it comes to tariffs, but they’re squarely in the crosshairs. Items like men’s shorts, bags, and bath towels, which are often made abroad, are likely to see price hikes. If you’re planning to refresh your wardrobe or update your linens, acting soon will be wise.

4. Food and groceries:
This is one of the most concerning areas for American families. The U.S. imports billions of dollars’ worth of fruits, vegetables, nuts, and other agricultural goods, particularly from Mexico. Tariffs on these essentials are expected to push grocery prices upward, making food more expensive for everyone.

5. Large home appliances:
Previous tariffs have already raised the cost of steel-based appliances like washing machines and refrigerators by as much as 50%. The new tariffs could make these staples even pricier. Whether you’re remodeling your kitchen or replacing an old appliance, buying now could help you avoid paying a premium later.

6. Pharmaceuticals:
Perhaps most alarming is the proposed 200% tariff on imported medicines, which could come into effect within the next year. The U.S. imports hundreds of billions of dollars’ worth of pharmaceuticals annually, and while the government says this move is designed to encourage domestic manufacturing, the result will likely be higher drug prices for consumers. This could have a widespread impact on everyday Americans relying on affordable medication.

What it means for consumers

The bottom line is clear: waiting too long to make these purchases could cost you more. With tariffs scheduled to kick in soon, prices on many essential and non-essential goods are expected to rise sharply.

Keep an eye on announcements from the White House and retailers. Many stores may offer sales or promotions to clear out inventory before the tariffs take effect, giving shoppers a chance to stock up at current prices. This window of opportunity won’t last forever.

Planning ahead

To avoid the sting of higher prices, it’s a good idea to review your upcoming needs and consider making important purchases now. Whether it’s updating your electronics, furnishing your home, restocking your pantry, or refilling your medicine cabinet, acting before August 1, 2025, could save you hundreds or even thousands of dollars.

While tariffs are often framed as a means to protect domestic industries and boost local manufacturing, the immediate impact is almost always felt by consumers. The coming months may well be a crucial time for American families looking to stretch their budgets and prepare for a more expensive future.

In short, if you’ve been holding off on a big buy, don’t wait any longer. Prices are about to rise, and the smartest move might be to shop now before the surge hits.