Have you wondered how many of the things we use in daily life are actually made overseas? In fact, our country depends on a lot of imports to fill our stores. And because of the changes in the import tariffs and delays in getting supplies, the prices of a lot of imported items could rise.
If you’re curious which items these are, here are some of the most popular imported products and why you should consider buying them right away.
1. Passenger Vehicles
Did you know that most of those sedans, family SUVs, and trucks zipping around the country are from abroad? A lot of our passenger vehicles are imported from countries like Mexico, Japan, South Korea, Canada, and Germany. So, if looking for a new ride, buying it now could save money down the line.
2. Copper Items
Copper is a material that’s found in everything related to electricity and plumbing. The U.S. gets a lot of both raw and finished copper products from Canada, Chile, and Mexico. The increase of copper price will affect a lot of items, including small cables you use for your electronic gadgets.
3. Laptop and Desktop Computers
Whether you are working from home or watching your favorite TV shows, computers are essentials. Many of these high-tech devices, and their components, come from manufacturing hubs like China, Mexico, and Taiwan. If your old machine is on its last legs, an upgrade soon could be smart.
4. Smartphones
Almost all of our phones are imported, and China is among the top suppliers. As new models and features emerge, so do potential price fluctuations. Even if your phone isn’t a Chinese brand, most of its parts are probably from China. Consider buying now if you were already thinking of an upgrade in your near future.
5. Beverage Cans
Beverage cans are made using aluminum which is highly imported with Canada, China, and the UAE being the main exporters. If you’re buying a can of soda or beer, you might as well buy a lot before the price increases.
6. Medical Devices
A lot of the devices that support our healthcare system are imported from other countries. Many of them come from China, Germany, Mexico, Ireland, and Switzerland. If certain medical devices are necessary for you or your family, it is a good idea to regularly check their availability now and buy an extra or two.
7. Furniture
Many of the sofas, dining tables, and bed frames we buy are actually imported. They are mainly imported from China, Canada, Mexico, Vietnam, and Italy. If you plan to change some furniture, it may be wise to buy it early, as you could find better deals.
8. Plastics
Plastics are part of many things, for example, packaging, electronics, and car components. Most of the raw materials and plastic goods in our country come from China, Canada, Mexico, Germany, and South Korea. If you’re thinking about getting a few plastic items, purchase them now as the prices are set to rise.
9. Gems and Precious Metals
Many of the diamonds, gold, and silver the U.S. imports are supplied by India. While raw gold usually has tariff exemptions, jewelries made from gold are still affected. Now could be the right time to make a big jewelry or precious metals investment before the tariff increases their prices.
10. Appliances
Fridges, washing machines, and different electronic goods are usually brought in from countries like South Korea and Mexico. The changes to shipping and import taxes might affect the prices of these appliances. Getting new appliances today might prevent you from spending more in the future.
11. Rubber
Rubber is a common material in shoes and many products, and it is mostly imported from South and South Asia. Since the prices of many rubber products are affected by supply chain changes and rising material costs, buying them now could be a good idea.
12. Spices
Black pepper, cinnamon, and cumin are among the main foods the U.S. gets from India and other countries. Because of the new trade rules, the costs of shipping goods are likely to increase and may lead to more expensive spices. As a result, now is the best time to buy spices for your pantry.
13. Apparel and Textiles
Most of the clothes and fabrics in our wardrobe are made in China, Bangladesh, and Vietnam. Given that prices might increase because of tariffs and the supply chain in the future, you may want to purchase clothes and fabrics now.
14. Beverages and Spirits
Wines, beers, and non-alcoholic beverages that most of us appreciate are often imported to our country from France, Italy, Mexico, and Canada. Higher tariffs and shipping usually results in expensive imported drinks, so this is the perfect time to get more drinks for your bar or pantry.
15. Toys and Games
Plenty of toys and games, including action figures and board games, either come or manufactured overseas. If you are concerned that prices will increase later on, buying your gifts now before any holidays might be a good choice.
16. Coffee and Tea
Much of the coffee and tea we drink every day is imported. Lots of coffee and tea is imported to our country from various parts of South America, Africa, and Asia. It could be a good idea to keep your favorite coffee or tea on hand right now before the price hike.
17. Iron and Steel Products
Both iron and steel are important materials in our buildings and car and appliance parts, and are all imported from abroad. If you are planning home renovations, you may want to start purchasing steel pipes and the necessary materials now, since prices may rise.
18. Paper
The U.S. imports a lot of paper and paperboard from other countries. A drop in pulp prices or increases in energy and transport can make paper products more expensive in the future. So if your favorite book series is coming out with a new sequel, the price might be more expensive than before.
19. Glass and Glassware
Many things in our homes, including windows, glasses, and ornaments, are made from glass imported from elsewhere. Glass production and transportation use a lot of energy, so the cost of making it can increase. Consider any glass-related purchases you might need in the near future.