It looks like my strategy hoarding electronics was prudent and timely. According to TomsHardware, the price of laptops are expected to rise 10% in March due to the new administration’s tariff scheme.
Acer Laptop prices in the U.S. are set to rise by 10% from March 2025, commented CEO Jason Chen in an interview with The Telegraph. Chen states that the price hike is a direct result of the Trump administration’s incoming tariffs.
I had just ordered a new laptop a couple of days ago when I came across the article and it merely re-enforced what I suspected was going to happen.
I have also started hoarding non-perishable foods in case the tariff trade war gets intense. Right now a 25 lb bag of jasmine rice is about $24 and I take that bag and vacuum pack it down into smaller bags and toss a food grade desiccant to keep moisture at bay. Same for dry beans and I also stocked up on canned goods.
Risk Mitigation
The theme here is risk mitigation. Imposing tariffs on incoming goods means the prices of those goods are going to go up no matter what any convoluted thing a politician might say about the topic.
I have my own ideas on risk mitigation but I decided to ask AI how to risk mitigate against tariffs and below is the response.
- Stockpile Essential Goods
Buy in bulk: If possible, purchase non-perishable household goods (e.g., cleaning supplies, toiletries, and pantry staples) before tariffs take effect.
Prioritize necessities: Focus on high-use items like paper products, personal hygiene items, and canned goods. - Diversify Sourcing
Seek local alternatives: Look for domestically produced versions of common household items.
Buy from multiple retailers: Spread your purchases across different sources to avoid price spikes from a single supplier. - Adjust Consumption Habits
Use products efficiently: Reduce waste and make items last longer (e.g., using refillable containers, conserving detergent, etc.).
Find substitutes: Switch to alternative products if the price of imported goods rises (e.g., switching from imported to locally made detergents). - Monitor Market Trends
Stay informed: Follow news on tariff policies and their impact on household goods.
Track price changes: Observe pricing trends to anticipate cost increases and stock up before significant hikes. - Budget for Potential Cost Increases
Allocate extra funds: Prepare for possible price surges by setting aside a portion of your budget for essential goods.
Look for discounts: Take advantage of sales, loyalty programs, and coupons to mitigate cost increases. - Advocate and Support Policy Changes
Engage with policymakers: Participate in discussions about tariffs and their impact on consumers.
Support domestic manufacturers: Encourage competition by purchasing from domestic brands that may be unaffected by tariffs.
I thought I had a good handle on how tariffs might affect me and the family but AI offered up a list of things that I hadn’t entirely considered.
Household Goods Likely to Be Affected by Tariffs
- Electronics & Appliances
Affected Items: Laptops, smartphones, TVs, microwaves, refrigerators, washing machines.
Risk Mitigation:
Consider buying essential electronics before tariffs take effect.
Look for refurbished or domestically produced alternatives.
Extend the life of current appliances through proper maintenance and repairs. - Cleaning Supplies & Toiletries
Affected Items: Laundry detergent, dish soap, paper towels, toilet paper, razors, toothbrushes, cosmetics.
Risk Mitigation:
Stock up on non-perishables before prices rise.
Switch to local or generic brands.
Use reusable alternatives (e.g., microfiber cloths instead of paper towels). - Furniture & Home Goods
Affected Items: Sofas, mattresses, kitchenware, décor items, light fixtures.
Risk Mitigation:
Buy durable, long-lasting furniture now rather than replacing it later at higher costs.
Explore second-hand or locally crafted furniture.
Repurpose or refurbish old furniture instead of buying new. - Clothing & Textiles
Affected Items: Shoes, coats, bedding, towels.
Risk Mitigation:
Invest in durable, high-quality items that last longer.
Buy from domestic brands or second-hand stores.
Learn basic sewing skills to extend clothing lifespan. - Food & Beverages
Affected Items: Imported fruits and vegetables, coffee, tea, seafood, dairy products, processed foods.
Risk Mitigation:
Shift to locally sourced produce and meats.
Buy non-perishable essentials in bulk.
Grow your own herbs or vegetables if possible. - Home Improvement & DIY Supplies
Affected Items: Tools, nails, screws, wood, paint, adhesives.
Risk Mitigation:
Complete necessary repairs and renovations before tariffs take effect.
Buy high-quality tools that last instead of cheaper, imported options.
Source materials from domestic suppliers.
Once again, AI helps fill in the gaps and offers an additional perspective on things I had not considered. I’m reviewing the list and will take action accordingly.
Share The Wealth
How are you risk mitigation the upcoming tariffs? Let me know in the comments below!