With new tariffs set to hit imports from China, Mexico, and Canada, Americans could soon see price hikes on everyday essentials. If you’re considering making a purchase, now might be the time—before costs surge overnight.

On February 1, 2025, former President Donald Trump signed an order imposing tariffs on goods from these major trading partners. The move aims to pressure these countries into curbing the flow of illicit substances into the U.S. However, the impact on consumers could be severe, with increased costs across several key product categories.

Here’s a breakdown of six essential items worth buying before these tariffs drive prices up.

1. Smartphones – Expect Higher Prices on Popular Brands

If you’re planning to upgrade your iPhone or Android device, don’t wait too long. The new tariffs include a 10% tax on smartphones manufactured in China, which dominates global phone production.

China is responsible for over 30% of all smartphones worldwide, and tech giants like Apple rely heavily on Chinese factories. A 10% tariff could translate to a $100–$200 increase on premium models. Retailers may absorb some of the cost initially, but expect prices to jump as soon as existing stock runs out.

Bottom line? If a new phone is on your shopping list, buy it before the tariffs kick in.

2. Alcohol – Stock Up on Tequila and Whiskey

Love tequila, whiskey, or mezcal? Get ready for sticker shock.

The U.S. imports massive amounts of spirits from Mexico and Canada, making these new tariffs a major concern for liquor enthusiasts.

• Mexico exported $4.6 billion worth of tequila to the U.S. in 2023, with an additional $108 million in mezcal.
• Canada shipped over $202.5 million worth of whiskey south of the border last year.

With tariffs expected to add 25% or more to the cost of these imports, a bottle that costs $40 today could jump to $50 or more. Plus, Canada is already planning retaliatory tariffs on American whiskey, which could drive up prices even further.

If you enjoy a good cocktail, consider stocking up now before prices spike.

3. Cars and Auto Parts – A Price Surge for Vehicles

Thinking about buying a new car or getting repairs done? Expect higher costs across the board.

• The U.S. imported $106 billion worth of vehicles from Mexico and Canada in 2023.
• Another $98 billion in auto parts came from these two countries.

With a 25% tariff looming, this could mean higher prices on new cars, as well as increased costs for repairs and maintenance. Manufacturers may try to shift production, but in the short term, consumers will bear the brunt of the price hikes.

If you’re in the market for a vehicle or need significant repairs, act fast before costs go up.

4. Toys – Popular Brands Like Tonka Could Get Pricier

Parents, take note—children’s toys could soon become more expensive, particularly those made in China.

Tonka trucks, a favorite for generations, are among the millions of toys manufactured in China that will be subject to a 10% tariff.

Although 10% may not seem like a huge increase, the cost of toys has already been rising due to supply chain disruptions. That means holiday shoppers could see higher prices on everything from dolls to action figures well before the year-end shopping season.

If your child has a birthday coming up, now might be the time to grab that toy while prices remain stable.

5. Gasoline and Crude Oil – Fuel Costs Are Set to Rise

Perhaps the most immediate impact Americans will feel is at the gas pump.

• Canada sent $90 billion worth of crude oil to the U.S. last year, making it the largest oil supplier.
• Mexico supplied an additional $11 billion in crude oil.

Even though Canadian oil is only facing a 10% tariff, industry experts predict it could increase gas prices by 30 to 70 cents per gallon.

What does this mean for you? If you drive frequently, filling up your tank before the tariffs take effect could save you money. Long term, it may be wise to consider fuel-efficient alternatives or electric vehicles to offset future price hikes.

6. Fruits and Vegetables – Grocery Bills Are About to Get Heavier

Your grocery bill is also about to take a hit.

• The U.S. imported $45 billion worth of food and farm products from Mexico in 2023.
• Two-thirds of all imported vegetables and nearly half of imported fruits and nuts come from Mexico.

With tariffs in place, everyday staples like avocados, tomatoes, and berries will likely see significant price increases.

Even worse? If Mexico retaliates with its own tariffs, American farm products could become more expensive overseas, disrupting supply chains and causing further economic strain.

If you’re a fan of fresh produce, now might be the time to stock up on frozen alternatives before prices surge.

What’s Next? The Impact of Trump’s Tariffs on Consumers

These tariffs, designed to hold China, Mexico, and Canada accountable for illicit drug control, will have far-reaching economic consequences for everyday Americans.

As businesses adjust to higher costs, expect price increases across multiple industries, including electronics, automobiles, food, and fuel. Some companies may absorb the initial impact, but most will pass the cost onto consumers in the form of higher prices or reduced product availability.

Final Thoughts – Make Your Purchases Before Costs Rise

If you’ve been considering buying a new phone, car, or even stocking up on tequila, now is the time. With tariffs set to take effect tomorrow, prices are almost guaranteed to rise in the coming weeks.

While these measures are aimed at addressing international trade issues, they come with an undeniable cost to American consumers. Being proactive now could save you hundreds or even thousands of dollars in the long run.

So, what’s your next move? If you’ve been on the fence about a big purchase, today might be the best day to seal the deal.